Applied Materials’ Earnings Report: What to Expect and Current Stock Insights

Wall Street anticipates that Applied Materials Inc AMAT will announce earnings of $2.19 per share along with revenues of $6.95 billion during its fourth-quarter earnings release, set to occur after market hours.

The company’s stock has increased by 20.48% over the past year and has risen 20.25% year-to-date.

Let’s examine the stock’s current trends and how they align with Wall Street’s expectations.

Current Technical Trends for Applied Materials

Currently, Applied Materials stock is presenting signs of a bearish trend, trading below key exponential moving averages (including the five, 20, and 50-day) which indicates persistent selling pressure and possible further declines.

Chart created using Benzinga Pro

At a current price of $186.07, Applied Materials has fallen below several important simple moving averages, including the eight-day at $188.02, the 20-day at $185.92, the 50-day at $191, and the 200-day at $204.03, signaling continued bearish sentiment.

Moreover, the MACD (moving average convergence/divergence) stands at negative 1.65, which reinforces this bearish outlook indicating downside momentum. However, the RSI (relative strength index) of 46.97 suggests that AMAT might soon reach oversold conditions, hinting at a potential for brief recovery.

Analyst Insights Suggest Possible Upside

Ratings & Consensus Estimates: Analysts agree on a Buy rating for Applied Materials, with an average price target of $214.89. Additionally, ratings from Stifel and Susquehanna suggest an average price target of $203.33, indicating a possible upside of around 9.23% from the current level.

Current Trading Price: At the time of this report, Applied Materials stock was trading at $185.75.

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