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Applied Materials Inc. (AMAT) Has Dropped To An 11-Month Low On Week Outlook

Applied Materials Inc. (AMAT) reported third quarter adjusted EPS of $1.20 after the close Thursday, which surpassed the consensus estimate of $1.17. The company expects to report fourth quarter EPS of $0.92 to $1.00 and full year EPS of $4.41 to $4.49. Street expectations are for EPS of $1.17 and $4.59.

Applied Materials gapped open sharply lower Friday morning and has continued to fall in early trade. Shares are now down 3.96 at $43.46 on above average volume. The stock has dropped to over an 11-month low.

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