Applied Materials stock jumps on AI chip-tool outlook; what to watch when Wall Street reopens
Applied Materials shares jumped 8.1% to $354.91 Friday after the company issued a strong outlook citing AI-driven chip demand. First-quarter revenue fell 2% to $7.01 billion, but the company forecast higher sales for the current quarter. Broader tech stocks slipped for the week. U.S. markets reopen Tuesday after the Presidents Day holiday.