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Tuesday, February 12, 2008

Applied Materials (AMAT) 1Q:08 Results

So much for buying stock at 14.

Applied blew out orders in display for the Q, coming in at 550mm vs expectations of closer to 120mm. Like I said, wish I could buy just that segment. Solar also bested expectations but that should be a given.

Guidance of orders +/- 5% also puts the order outlook above consensus.

Stock will likely continue to trend higher as it will continue to garner attention as a first mover in an upturn and less exposed to the downturn. My caution into the quarter was incorrect. It's a long.

Stock is trading at 19 in the aftermarket.

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