Buy This Top Chipmaker Before Thursday

I’m counting down the days. After the closing bell rings on Thursday, one of my top technology companies will be reporting its third-quarter operating results. With the stock trading at less than 13 times future earnings, it is a fantastic buy right now. But you’ll need to act quickly, because I expect this semiconductor play to surge after earnings. Here are the complete details…

Applied Materials Inc. (AMAT) is the world’s leading semiconductor and display equipment company. Applied Materials boasts a portfolio of over 10,000 patents and brings in nearly $10 billion in annual revenue. The company is based out of Silicon Valley, and it operates 81 locations across 18 countries.

Applied Materials has four main businesses: Semiconductor Systems, Applied Global Services, Display and Adjacent Markets, and Corporate and Other. The Semiconductor Systems, which accounts for two-thirds of sales, produces and sells the machinery needed to create semiconductors. The Applied Global Services unit provides solutions to 33,000 applied semiconductor, display and solar manufacturing systems around the globe.

Business is booming for Applied Materials, so analysts have high hopes for its upcoming report. As it stands, Applied Materials is expected to post a whopping 124.1% annual earnings growth and 39.7% sales growth. I expect it to do even better. After all, analysts have hiked up their consensus estimate by 35% over the past 90 days—these kinds of earnings revisions tend to precede earnings surprises.

I must also mention that AMAT has a dividend coming up. Shareholders of record on November 25 will receive $0.10 per share on December 15. At current prices, AMAT has a 1.4% annual dividend yield.

AMAT is one of my A-rated stocks in Portfolio Grader, and I currently recommend it in my Blue Chip Growth newsletter. I expect it to post stunning earnings on Thursday, so now would be a great time to buy the stock.

Sincerely,

Louis Navellier

Louis Navellier

P.S. If you’d like more information on AMAT, including my current price limit for the stock, you can access it through a risk-free trial of Blue Chip Growth.

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