Why Applied Materials (AMAT) Stock Is Up Today

NEW YORK (TheStreet) -- Applied Materials (AMAT) stock is gaining on Friday after the company reported strong revenue and order growth in its second quarter ended April. 

By midmorning, shares had added 6.9% to $19.97. 

Over the three months to April, revenue soared 19.2% year over year to $2.35 billion, inline with analysts' estimates. Quarterly orders of $2.63 billion was up 16% year over year. 

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TheStreet Ratings team rates APPLIED MATERIALS INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate APPLIED MATERIALS INC (AMAT) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

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