Why Applied Materials Shares Are Rising

Shares of several companies in the broader technology sector, including Applied Materials, Inc. AMAT, are trading higher on a continued rebound after the recent omicron-driven selloff.

Shares of semiconductors companies were also trading higher last week in sympathy with Micron Technology, Inc. MU after the company reported better-than-expected financial results and issued revenue guidance above estimates.

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Applied Materials is the world's largest supplier of semiconductor manufacturing equipment, providing materials engineering solutions to help make nearly every chip in the world. The firm's systems are used in nearly every major process step with the exception of lithography.

Applied Materials has a 52-week high of $160.50 and a 52-week low of $83.53.