Applied Materials' Slide Brings Out Buyers

Updated from 9:50 a.m. EST

Shares of Applied Materials fell Thursday after the company forecast a painful 35% decline in first-quarter orders. However, analysts were split on whether the shares were getting cheap enough to buy.

The stock was recently faring better and was down 36 cents, or 2.1%, to $16.98, after earlier approaching its 52-week low of $15.34. First Albany lowered the stock to neutral from buy, while Needham and J.P. Morgan opined that the worst of the company's news is probably out.

At First Albany, Auguste Richard said he thinks the shares "will trade sideways until bookings momentum returns." ...