Shares of several companies in the broader tech & semiconductor sectors, including Applied Materials, Inc. AMAT, are trading lower amid overall market weakness as stocks fall following weak retail earnings this week. Anticipation of further Federal Reserve policy tightening has continued to weigh on stocks across sectors.
Applied Materials shares also saw weakness last week and were trading lower amid continued volatility as investors digest the latest U.S. inflation data, which came in higher-than-expected.
The headline CPI rose 8.3% in April, down slightly from 8.5% in March but above economist estimates of 8.1%. Prior to 2022, the CPI hadn't risen 8.3% in any month since 1982. Core inflation, which excludes volatile food and energy prices, was up 6.2% in April, above economist estimates of a 6% gain.
See Also: What's Going On With Dollar Tree Stock Today?
According to data from Benzinga Pro, Applied Materials has a 52-week high of $167.06 and a 52-week low of $102.99.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
