Why Applied Materials (AMAT) Stock Is Up Today

NEW YORK (TheStreet) -- Applied Materials (AMAT) was gaining 1.1% to $22.64 Monday after announcing a new medium-current ion implantation tool for manufacturing FinFET and 3D NAND designs at sub-2x nanometer nodes.

The new system, called the Applied Varian VIISta 900 3D system, uses innovations in precision materials engineering to deliver levels of control necessary to improve device performance, reduce variability, and increase yields of high-performance, high-density 3D devices.

"Specifically developed for 3D designs, the VIISta 900 3D ion implantation tool helps solve our customers` toughest device challenges by providing the purest, most precise implants available for improved device performance and yield," Applied Materials vice president and general manager of the Varian Semiconductor Equipment unit Gary Rosen said in a press release.

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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 several positive factors, 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

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