Why Applied Materials Shares Are Rising Today

Applied Materials, Inc. AMAT shares are trading higher by 3.23% at $109.90. Shares of several companies in the broader technology sector are trading higher amid overall market strength as stocks rebound following Friday's weakness. Stocks have been highly volatile following the Federal Reserve’s recent 50 basis point rate hike, which has weighed on the Nasdaq heavily.

Applied Materials is otherwise lower by 31.28% on a year-to-date basis as investors digest the latest U.S. inflation data, which came in higher-than-expected. Anticipation of further Fed policy tightening has also continued to weigh on stocks across sectors.

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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.

According to data from Benzinga Pro, Applied Materials has a 52-week high of $167.06 and a 52-week low of $101.33.