Today's market is tough to please. Despite reporting solid earnings Wednesday evening, shares of Applied Materials (AMAT) are down sharply in pre-market trading. Long-term investors needn't bat an eye, though, as the outlook for chip-equipment makers over the next couple of years--especially for Applied Materials--is very, very good.
Applied Materials' fiscal-second quarter results weren't spectacular, but they certainly weren't bad. The company reported profits of $0.55 per share, meeting average earnings expectations before acquisition-related charges due to its merger with Etec Systems.
Jeremy Lopez does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.