Previous close | 33.10 |
Open | 32.95 |
Bid | 36.65 |
Ask | 40.35 |
Strike | 80.00 |
Expiry date | 2024-06-21 |
Day's range | 32.90 - 33.10 |
Contract range | N/A |
Volume | |
Open interest | 2 |
When the economy gets wobbly, semiconductor stocks tend to struggle. After all, semiconductor companies have historically been cyclical, with booming sales when times are good -- as they were through much of the pandemic -- and busting when demand dries up. Consumer electronics chips are facing the dual headwinds of a gap in demand after many loaded up with a new phone or PC two years ago, and economic challenges caused by the Federal Reserve rapidly raising interest rates.
These two companies have well-established businesses, but more importantly, both can adapt as their respective markets evolve.
Shares of the Santa Clara, California-based company rose more than 1% in trading before the bell. Applied Materials said its board also approved a 23% increase in its quarterly dividend, the largest in five years, to 32 cents per share, up from 26 cents per share. The semiconductor industry has been facing a downturn in demand for chips used in personal computers and mobile devices, although, in a bright spot, demand from data center and automotive sectors has been steady.