Why Applied Materials Shares Are Falling Today

Comments
Loading...

Applied Materials, Inc. AMAT shares are trading lower by 3.89% to $103.06. Shares of technology and software companies are trading lower amid an overall market selloff following worse-than-expected US May inflation data.

Inflation concerns have weighed on the economic outlook and have also raised expectations for further Fed rate hikes. A rise in treasury yields has also weighed on tech and growth stock valuations.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.0 percent in May on a seasonally adjusted basis after rising 0.3 percent in April, the U.S. Bureau of Labor Statistics reported today. The all items index increased 8.6 percent for the 12 months ending May, the largest 12-month increase since the period ending December 1981.

See Also: Apple Reportedly Plans For a Bevy Of Laptops Armed With Powerful In-House Chips

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

Overview Rating:
Speculative
50%
Technicals Analysis
66
0100
Financials Analysis
40
0100
Overview
Market News and Data brought to you by Benzinga APIs

Posted In:
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!