Why Is Applied Materials Gaining Traction Among Investors?
Leading semiconductor equipment manufacturer Applied Materials (NYSE:AMAT) has seen its stock surge by more than 50% since February this year. We attribute this growth to the strong orders for equipment to manufacture 3D-NAND flash memory, as well as displays for smartphones, tablets and televisions. As 3D-NAND technology makes it possible to have terabytes of data on a small flash drive, memory device makers have ramped up their production capacity based on this technology. Furthermore, more than 17 new smartphones with new OLED displays were released in the first quarter of 2016, further stimulating orders for display manufacturing equipment. Both these technology inflections were reflected in the surge in orders reported by Applied in its Q2’16 earnings release. Given below is a performance comparison of Applied with Nasdaq tech index in the last one year and data supporting strong growth prospects for the company in near term.
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