Is Applied Materials (AMAT) Stock a Buy Ahead of Thursday Earnings?
TLDR
- Applied Materials reports Q3 earnings Thursday after market close
- Wall Street expects EPS of $3.39, up 37%, and revenue of $9 billion, up 23% year-over-year
- Options markets pricing in a move of up to 7% in either direction after results
- AMAT stock has risen 104% year-to-date, though it has pulled back around 30% from June highs
- UBS raised its price target to $705; average analyst price target stands at $689
Applied Materials (AMAT) is due to report fiscal third-quarter earnings on Thursday after the closing bell. Wall Street is watching closely.
Analysts expect EPS of $3.39, a rise of around 37% year-over-year. Revenue is forecast to hit $9 billion, up roughly 23% from the same period last year. Some estimates from Visible Alpha put adjusted EPS at $3.42 and revenue at $9.04 billion, which would be a record quarter.
The stock currently trades around $525, down nearly 30% from its June highs, but still up 104% so far this year. That makes it one of the best performers in the S&P 500, which is up around 13% over the same period.
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