Applied Materials (AMAT) closed at $88.12 in the latest trading session, marking a -1.23% move from the prior day.
Applied Materials (AMAT) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
The chip industry is in the early stages of a cyclical downturn right now, and Micron itself announced a big hit to its revenue and profits is upcoming. New York state, where Micron plans on spending up to $100 billion over the next two decades on a new megafab. It's huge news for Micron, New York, and the whole semiconductor industry, which is still grappling with fallout from the pandemic and a shaky supply chain that is highly reliant on overseas fabs.