Jim Cramer -- 'Fabulous' Applied Materials Is a Big China Bull
Until Friday, shares of Applied Materials (AMAT) - Get Report had been flat over the past year. No longer -- the stock is up 13% on Friday following its "fabulous" earnings results, TheStreet's Jim Cramer said on CNBC's "Mad Dash" segment.
If investors want to feel bullish, they should listen to the semiconductor company's conference call, added Cramer, the co-manager of the Action Alerts PLUS portfolio. He cited notes from the call, which included, "China is probably our strong region...the momentum just keeps building...[China is a] multi-year wave opportunity."
It's "maybe one of the most bullish calls that I have heard in years," Cramer said of the results, which included record revenue in China.
The U.S. market is doing well and the overall business continues to impress, he said. Applied Materials topped earnings per share and revenue expectations and also provided much stronger than expected guidance for next quarter.
This has good implications for Lam Research (LRCX) - Get Report , Cramer said, shares of which are up more than 4% Friday.
"AMAT is back and it's bigger than ever," Cramer concluded.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.
