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05-20-2018, 02:23 PM
Chip-maker stocks notch losing week after Applied Materials outlook slams sector

Applied Materials (AMAT)*shares fell 8.3% to close at $49.51, after hitting an intraday low of $48.53, as analysts were split on target price moves after the company’s sales outlook was lighter than Wall Street expected. For the week, shares of Applied Materials are down 9.7%, the SOX index swung to a weekly loss of 0.4%, and the S&P 500 (^GSPC)*finished down 0.5%. Late Thursday, Applied Materials estimated adjusted earnings of $1.13 a share to $1.21 a share for its fiscal third quarter on revenue of $4.33 billion to $4.53 billion, while analysts surveyed by FactSet had expected earnings of $1.16 a share on revenue of $4.53 billion.

https://finance.yahoo.com/m/bb4f05ea-f7e9-397b-b32b-d78da17e172b/chip-maker-stocks-notch.html?.tsrc=rss