Applied Materials, Inc. (AMAT) Stock lost 2.45% on Tuesday’s April 6, early session but it tried to recover in the after-hours session but it only gained0.079%. Over the past three months, the stock has gained 60.63%, while over the past six months, it has added 139.72%.
Recent AMAT News
AMAT provided the future roadmap
On April 6, 2021, Applied Materials announced its plans and issued a new financial model for 2024. The company is expecting to grow revenue by over 55 percent and non-GAAP EPS by more than 100 percent by fiscal 2024. Applied plans to grow its services business by over 45 percent.
Applied expects to benefit from the next wave of OLED growth in its display business, as OLED is getting more common in smartphones, TVs etc.
New platform for new Chip technologies
April 05, 2021, AMAT announced the new platform AIx, which will boost the development and development of new chip technologies.
AIx stands for Actionable Insight Accelerator will provide a real-time insight of semiconductor processes to engineers.
AIx will allow engineers to use big data and artificial intelligence to boost the development and deployment of new chip technologies.
Applied Materials has shared AIx case studies at its 2021 Investor Meeting on April 6 and will also share them at Master Class events scheduled for May 5 and June 16, 2021.
Intel (SCQI) award winner
On March 30, 2021, Applied Materials won the exclusive Supplier Continuous Quality Improvement (SCQI) Award from intel for 2020.
In 2020, only seven suppliers in the entire Intel supply chain won an Intel SCQI Award and it recognizes the highest level of achievement in the Intel SCQI Program, a multi-year road map for continuous improvement for high-performing Intel suppliers.
Terminating the Kokusai Electric Acquisition Agreement
On March 29, 2021, AMAT announced to terminate the share purchase agreement with KKR HKE Investment L.P as of March 19, 2021. Applied Materials is paying KKR a termination fee of $154 million in cash.
The share slipped due to the future road map which did not please the investors. We can expect a recovery in near future and AMAT stock can stabilize itself.
About Applied Materials
Applied Materials, Inc. is an American corporation founded in 2013 in the United States and supplies equipment, services, and software for the manufacture of semiconductor chips for the majority of electronics devices.