Applied Materials earnings preview
Gary Christie August 12, 2020 3:18 PM
Can AMAT surge to record highs, or will the uptrend reverse?
On Thursday, Applied Materials (AMAT), the global leader in materials engineering solutions for the semiconductor industry, is expected to post 3Q EPS of $0.94 compared to $0.74 last year on sales of $4.2B vs $3.6B a year ago.
The stock has an expected move of 5.2% up or down and dropped 4.4% after the last earnings release. The stock has 22 buys, 5 holds and 0 sell recommendations according to Bloomberg Consensus.
Technically speaking, the stock remains in an uptrend inside a bullish trend channel. The 50-day moving average (in blue) is acting as support and can be used as a trailing stop near $61.70. As long as the uptrend remains active, look for a test of record highs at the $69.40 level. A break below the 50-day moving average would signal the end of the bullish trend and a call to test supports of $59.50 and 56.25 in extension.
Source: GAIN Capital, TradingView
Disclaimer: GAIN Capital UK Limited (trading as "Forex.com") is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, Forex.com does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by Forex.com or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although Forex.com is not specifically prevented from dealing before providing this material, Forex.com does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
For further details see our full non-independent research disclaimer and quarterly summary.