Applied Materials Inc (NASDAQ:AMAT) reported fiscal fourth-quarter financial results after the close on Thursday. Here's a rundown of the report and a look at what's driving shares lower after hours.
Q4 Earnings: Applied Materials said fourth-quarter revenue was flat year-over-year at $6.72 billion, which beat the consensus estimate of $6.52 billion, according to Benzinga Pro. The company reported quarterly earnings of $2.12 per share, which beat analyst estimates of $2 per share.
Shares are reacting to the company's quarterly print, but additional selling pressure appears to be due to a Reuters report indicating the chip equipment maker is under U.S. criminal investigation for potentially evading export restrictions on China's SMIC.
Q4 Earnings: Applied Materials said fourth-quarter revenue was flat year-over-year at $6.72 billion, which beat the consensus estimate of $6.52 billion, according to Benzinga Pro. The company reported quarterly earnings of $2.12 per share, which beat analyst estimates of $2 per share.
Shares are reacting to the company's quarterly print, but additional selling pressure appears to be due to a Reuters report indicating the chip equipment maker is under U.S. criminal investigation for potentially evading export restrictions on China's SMIC.
Category
🗞
NewsTranscript
00:00 Let's get to Applied Materials Q4 adjusted EPS $2.12 beats the $2 estimate revenues of
00:07 $6.72 billion beat the $6.516 billion estimate.
00:12 Applied Materials sees Q1 adjusted EPS at $1.72 to $2.08 versus a $1.69 estimate.
00:21 Look at that price action.
00:24 What happened here?
00:25 Of course there's investigations behind here.
00:28 Do you guys know a little bit more about that situation?
00:32 That's definitely affecting the company because it wasn't the numbers here, at least from
00:36 what I can see.
00:38 Numbers were fine.
00:39 Again, though, you're a victim of your own success here.
00:43 You got Applied Materials sitting at all-time highs.
00:46 Look what they did to Walmart.
00:48 Walmart, they crushed it on pretty decent numbers.
00:51 Stocks that are reporting that are at all-time highs, they really got to blow it away.
00:55 Even Kramer, where Kramer's a producer, must be listening to the show, Kramer had a whole
00:59 segment right off the bat on the bar and talking about the bar and he was talking about Walmart
01:03 versus Target.
01:04 Really?
01:05 The whole segment, Joel, on the bar.
01:06 You know what else he said?
01:07 You guys don't know this.
01:08 I'm the producer also.
01:09 Listen to this.
01:10 He says, "The Target bar was on the ground and they could simply walk over it."
01:14 Where did he hear this line before?
01:15 Oh, come on.
01:17 I don't know if I've ever said that before.
01:19 Oh, yeah, maybe I have.
01:20 Maybe that's the one I say all the time.
01:21 Hi, Kramer.
01:22 Hi.
01:23 How are you doing?
01:24 How are you doing?
01:25 Mitch is a double agent.
01:26 Mitch is a double agent.
01:27 Are you the secret ...
01:28 I go over there.
01:29 I let them know.
01:30 ... do you secretly work as a producer for Mad Money?
01:31 That's how it goes, man.
01:32 You secret.
01:33 You double agent you.
01:34 It's been Mitch the whole time.
01:35 No wonder all of our content shows up on Mad Money.
01:36 Why do you think I'm going to replace him?
01:37 You're the secret producer.
01:38 Wow.
01:39 Oh, man.
01:40 That's how it goes.
01:41 Wow.
01:42 That just ... It's getting pounded.
01:43 Great job, guys.
01:44 I'm going to go.
01:45 I'm going to go.
01:46 Okay.
01:47 Okay.
01:48 I'm going to go.
01:49 Okay.
01:50 Okay.
01:51 Okay.
01:52 Okay.
01:53 a great parallel you made with the Walmart
01:56 and Walmart adds up a buck today.
01:58 But same kind of scenario there,
02:01 right up your all-time highs.
02:02 We're too close to the pre-market low for me to say,
02:06 yeah, the loan for the day is in.
02:09 It wasn't in Palo Alto networks, right?
02:11 I mean, that was just kind of a crazy move.
02:13 It didn't even get to the 230 area.
02:16 So for AMAT, I'm just gonna look at the monthly low here
02:20 and that's still another four bucks away.
02:24 No, it's 10 bucks away, 132.78.
02:27 So hard to step out ahead.
02:29 That's still 10 bucks away.
02:30 Will it be down 20 on this news?
02:32 I don't think so.
02:33 But right now the only number you have
02:35 is that pre-market low 142.80
02:38 and the top of yesterday's range.
02:40 Oh, I got the daily down here.
02:42 I'll change that for you guys in a second.
02:44 151.20, I don't think you're gonna see that.
02:47 That was the bottom of yesterday's rage in AMAT.
02:50 AMAT, go splat.