Why Applied Materials Stock Is Trading Down Today

Applied Materials, Inc. AMAT shares are trading lower on Thursday alongside shares of semiconductor and chip stocks, possibly in sympathy with Lam Research Corporation LRCX, which fell after its first-quarter earnings report.

What To Know: Lam Research Corporation released its first-quarter financial results after the market close on Wednesday. Lam Research Corporation reported quarterly earnings of $6.85 per share, which beat the analyst consensus estimate of $6.07, a 34.26% decrease over earnings of $10.42 per share from the same period last year. 

The company reported quarterly sales of $3.48 billion, which beat the analyst consensus estimate of $3.41 billion, a 31.38% decrease over sales of $5.07 billion from the same period last year.

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AMAT Price Action: Shares of AMAT were down 4.48% at $135.12 at the time of publication, according to Benzinga Pro.

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