AMAT just delivered blow out earnings !

D

derektrader

AMAT just blew away estimates and raised guidence significantly, also better margins.
There will be resistance between 67.50 and 68 tomorrow. Stock is only trading up about $1.40 after hours. I think AMAT gets a lot of price target increases tomorrow that will lift the stock at the open. However, you might see selling between 67.50 and 68.
Might be a good bet to grab it here at 66.40 and sell pre market tomorrow or at or near the opening bell.
 
I got out at 67.30. I got in at 66.40.
600 shares. It was a nice trade. It may gap up more tomorrow though but i had to take the quick swing.
 
derektrader said:
However, you might see selling between 67.50 and 68.
More...

Yep, the buy stop orders (from "breakout" buyers) will probably be triggered in that area, allowing the sharks to liquidate their long positions at that resistance level.

So let's see... :cool:
 
I see price targets going to 80 tomorrow. Maybe an 85 from a very enthusiastic analyst. Its a cheap stock compared to klac and lrcx.
I see the high tomorrow at 67.50-68. If the street loves it and believes the forecasts, it will go to 70.
Be careful though. I dont like how MU rolled over or how NVDA may have topped out today.

a side note about AMAT despite their awesome forecast. Intel ( INTC ) is a very large customer of theirs and INTC has been acting horribly and underperforming based on lack luster earnings. Keep that in mind as well as my other chip mentions.
 
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I'm thinking $76.50 - $77.50 is doable, at least over near term. Meanwhile:

(Briefing.Com)

After Hours

17:26 ET Applied Materials rallies on strong results and outlook :
The S&P 500 declined 0.2% on Thursday, but continued strength in the mega-cap stocks helped limit the decline. The Nasdaq Composite gained 0.3%, while the Dow Jones Industrial Average (-0.3%) and Russell 2000 (-0.2%) performed in-line with the benchmark index.

Apple (AAPL 460.04, +8.00, +1.8%) set a fresh record high in a momentum trade, helping the information technology sector (+0.04%) eke out a gain despite a pullback in the semiconductor stocks and an 11% decline in Cisco (CSCO 42.72, -5.38, -11.2%) following its disappointing quarterly guidance. The Philadelphia Semiconductor Index fell 1.1%.

..........

After-Hours Spotlight:

  • Applied Materials (AMAT) beats by $0.11, beats on revs; guides Q4 EPS above consensus, revs above consensus... AMAT up 2.1% after hours
  • 1TFF Pharmaceuticals (TFFP) enters into worldwide licensing agreement with UNION therapeutics... TFFP up 16.7% after hours
..........
 
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