Applied Materials, Inc. AMAT shares are trading lower on Thursday alongside shares of semiconductor and chip stocks, possibly in sympathy with Lam Research Corporation LRCX, which fell after its first-quarter earnings report.
What To Know: Lam Research Corporation released its first-quarter financial results after the market close on Wednesday. Lam Research Corporation reported quarterly earnings of $6.85 per share, which beat the analyst consensus estimate of $6.07, a 34.26% decrease over earnings of $10.42 per share from the same period last year.
The company reported quarterly sales of $3.48 billion, which beat the analyst consensus estimate of $3.41 billion, a 31.38% decrease over sales of $5.07 billion from the same period last year.
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AMAT Price Action: Shares of AMAT were down 4.48% at $135.12 at the time of publication, according to Benzinga Pro.
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