Here's Why Applied Materials And Lam Research Shares Are Moving

Applied Materials, Inc. AMAT and Lam Research Corporation LRCX shares are trading higher Wednesday afternoon. Both stocks are potentially trading higher in sympathy with Advanced Micro Devices, Inc. after the company reported better-than-expected fourth-quarter EPS and sales results and issued first-quarter guidance.

See Also: Why This AMD Analyst Is Bumping Up Price Target For Stock By 19% Following Q4 Results

What Happened?

AMD reported fourth-quarter non-GAAP earnings per share, or EPS, of 69 cents, above the consensus estimate of 67 cents per share. It was also higher than the third quarter’s 67 cents per share, but down 25% from the year ago’s 92 cents per share.

Fourth-quarter revenue came in at $5.6 billion compared to the consensus of $5.5 billion and the company’s guidance of $5.5 billion plus or minus $300 million...Read More

According to data from Benzinga Pro:

• AMAT is trading higher by 2.97% to $114.80
• LRCX is higher by 2.35% to $511.86