That’s true of everything as valuations have plummeted with rising interest rates. Applied Materials’ P/E ratio is well below its 10-year median as well. At 13.76, it ranks better than roughly 60% of industry competitors which have a median of 15.5. One of the simplest, and most compelling arguments in favor of AMAT stock is its price-to-earnings (P/E) ratio. 12 it revised its upcoming guidance downward from $6.65 billion to $6.4 billion. That has resulted in the company revising guidance downward. Not good for Applied Technologies and AMAT stock. Inflation and slowing global growth have crushed demand for big-ticket items that include all things semiconductors.
#Cheap stocks to buy now building materials software
The semiconductor manufacturing equipment, services, and software provider has suffered this year. On the one hand, Applied Materials (NASDAQ: AMAT) stock is at the forefront of the global economic downturn. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Cheap Tech Stocks: Applied Materials (AMAT)Īpplied Materials company sign outside office Therefore, they are likely to fall much farther. One can argue that many inexpensive tech stocks currently have worst-case scenarios priced in. That said, there are still cheap tech stocks worth buying.
None of the above suggests tech will run sharply higher for any sustained period of time. Greater numbers of influential voices are conceding that a 2023 recession is coming. None of that even considers the rising likelihood of a 2023 recession. That suggests inflation worries will be more persistent and that turmoil in the markets is far from over.
Although Powell suggested smaller incremental increases ahead he also stated rates could rise to higher levels than previously anticipated. The Federal Reserve just raised interest rates 75 basis points, its fourth such consecutive increase, and Jerome Powell signaled more trouble ahead. Let’s be realistic, overall turmoil in the markets is likely far from over at this point.
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