Why Applied Materials Stock Just Jumped 7%

Applied Materials (AMAT 6.26%) shares are moving higher Friday morning, up 6.7% through 10:20 a.m. ET after the manufacturer of equipment for semiconductors production reported better-than-expected Q1 2024 sales and earnings last night.Heading into earnings day, analysts had forecast Applied Materials would earn $1.91 per share on sales of $6.5 billion. Applied beat both targets, reporting more than $6.7 billion in sales and a per-share profit of $2.13.Applied Materials earnings reportAnd this news just kee ...