20 Trending AI Stocks on Latest News and Analyst Ratings

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14. Applied Materials, Inc. (NASDAQ:AMAT)

Number of Hedge Fund Holders: 77

Applied Materials, Inc. (NASDAQ:AMAT) provides equipment, services, and software for the semiconductor industry. The firm recently reported third quarter fiscal 2024 financial results that beat market estimates, though the outlook for the fourth quarter was mostly in line with analyst expectations. The California-based company reported earnings per share of $2.12 versus the consensus estimate of $2.02. It reported revenue for the quarter was more than $6.7 billion, which was more than the estimate of $6.67 billion. Net revenue from the semiconductor systems segment totaled over $4.9 billion, which represented a year-over-year increase of $248 million.

Applied Materials, Inc. (NASDAQ:AMAT) CEO Gary Dickerson said during the earnings call that his firm was delivering strong results in 2024 with record revenues in the fiscal third quarter and earnings towards the high end of the guided range. The CEO added that the race for AI leadership was fueling demand for a unique and connected portfolio of products and services, positioning Applied to outperform our markets over the longer term.

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