Applied Materials (NASDAQ: AMAT) reported fourth-quarter 2020 financial results after the closing bell on Thursday. The manufacturing giant reported Q4 revenue of $4.69 billion, up 25% year-over-year and higher than the Wall Street projection. Net income of $1.25 per share was much better than what analysts had anticipated.
AMAT shares rose 2.7% immediately following the announcement. The stock has gained 13% since the beginning of this year.
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