On Thursday, Applied Materials got an upgrade to its Relative Strength (RS) Rating, from 79 to 84.
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IBD's unique rating tracks share price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains typically have an RS Rating of at least 80 as they begin their biggest runs.
Applied Materials has moved more than 5% past a 201.11 entry in a first-stage consolidation, meaning it's now out of a proper buy range. Look for the stock to create a new chance to pick up shares like a three-weeks tight or pullback to the 50-day or 10-week line.
Top and bottom line growth moved higher in the company's most recent quarter. Earnings were up 17%, compared to 14% in the prior report. Revenue increased from 7% to 8%. Look for the next report on or around Nov. 13.
Applied Materials earns the No. 6 rank among its peers in the Electronics-Semiconductor Equipment industry group. Lam Research, Advanced Energy Inds and Nova are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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