September has been a bumpy ride for the stock market, with the major indices ending last week with marginal losses. The tech-heavy Nasdaq 100 witnessed its worst day since May this Monday as investors exhibited concern about the…
Federal Reserve’s meeting this week, surging COVID-19 cases, and possible financial market contagion from China’s big property developer Evergrande’s liquidity crisis. However, the tech-heavy index roared back in Tuesday’s session as investors shifted their attention to tech stocks.
Although the anxiety surrounding the Evergrande Group’s potential default on interest payments has kept the market on edge, economist Ed Yardeni of Yardeni Research believes that the Chinese government would not let the real estate firm fail. And its intervention could drive relief rallies in the major indices.
Given this backdrop, investors remain bullish about prominent Nasdaq 100 stocks’ strong momentum lately. Applied Materials, Inc. (AMAT – Get Rating), Zebra Technologies Corporation (ZBRA – Get Rating), and Gartner, Inc. (IT – Get Rating) possess solid growth potential and we think are well-positioned to keep soaring.
Applied Materials, Inc. (AMAT – Get Rating)
AMAT is a Santa Clara, Calif.-based provider of materials engineering solutions used to produce virtually every new chip and advanced display globally. The company also has expertise in modifying materials at atomic levels and on an industrial scale. AMAT operates through three segments: Semiconductor Systems; Applied Global Services; and Display and Adjacent Markets.
This month, AMAT introduced an innovation by securing industry collaborations to combine its technologies in advanced packaging and large-area substrates to speed the availability of solutions that deliver improved power, performance, area, cost, and time to market. AMAT users can accelerate technology roadmaps for heterogeneous chip design and integration through this technology co-optimization and collaborations.
AMAT’s net sales increased 41% year-over-year to $6.2 billion in its third fiscal quarter, ended August 1, 2021. The company’s gross profit grew 51.8% from its year-ago value to $2.98 billion. Its operating income rose 81.7% from the prior-year quarter to $2.01 billion. Also, the company’s EPS increased 105.5% year-over-year to $1.87.
Analysts expect AMAT’s revenue for its fiscal year 2021 to be $23.31 billion, representing 35.5% growth year-over-year. The company has an impressive earnings surprise history; it beat the consensus EPS estimates in each of the trailing four quarters. Its EPS is expected to grow 64.3% in the current year. Furthermore, the stock has gained 56.4% in price over the past nine months and 56.6% over year-to-date.
AMAT’s strong fundamentals are reflected in its POWR Ratings. The stock has an overall B rating, which equates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 distinct factors, each with its own weighting.
Also, the stock has a B grade for Momentum, and Quality. We’ve also graded AMAT for Stability, Sentiment, Value, and Growth. Click here to access all AMAT’s ratings.
AMAT is ranked #26 of 97 stocks in the B-rated Semiconductor & Wireless Chip industry.
Click here to checkout our Semiconductor Industry Report for 2021
Zebra Technologies Corporation (ZBRA – Get Rating)
ZBRA manufactures and sells marking, tracking, and computer printing technologies. The company operates in two segments: Asset Intelligence & Tracking; and Enterprise Visibility & Mobility. Its products include rugged mobile computers and tablets, thermal barcode labels, RFID printers, encoders, and other intelligent software and solutions. ZBRA is headquartered in Lincolnshire, Ill.
This month, ZBRA introduced the ET80 and ET85, a new series of Windows 12-inch rugged tablets and 2-in-1s. With this innovation, ZBRA users can experience flexible and portable tablets with support for Wi-Fi 6E and 5G with improved productivity, speed, and reliability across all areas of operations.
During its second fiscal quarter…
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