NEW YORK, NY / ACCESSWIRE / November 17, 2017 / Applied Materials closed in the green with a new high touched on Thursday after the company beat on its fourth-quarter earnings results and issued favorable guidance. Shares of Broadcom also closed in the green as traders continue to eagerly watch the company's actions on whether or not it will up its bid for Qualcomm. Earlier in the week, Qualcomm rejected an unsolicited $70 per share offer from Broadcom.

RDI Initiates Coverage on:

Broadcom Limited
https://rdinvesting.com/news/?ticker=AVGO

Applied Materials, Inc.
https://rdinvesting.com/news/?ticker=AMAT

Broadcom Limited shares closed up 2.45% on nearly 3.1 billion shares traded on Thursday. There hasn't been any significant news for the company yesterday but the buzz is still loud on the company's bid for Qualcomm and it being rejected. It was Monday that Qualcomm's board unanimously rejected Broadcom's $70 per share offer. Many analysts believe Broadcom will up its bid to $105 billion, or $80 to $90 a share. According to Paul Jacobs, the chairman of Qualcomm, the previous $70 bid "significantly undervalues Qualcomm relative to the company's leadership position in mobile technology and our future growth prospects." Broadcom CEO Hock Tan said, "Many have expressed to us their desire that Qualcomm meet with us to discuss our proposal. It remains our strong preference to engage cooperatively with Qualcomm's Board of Directors and management team." The company will be announcing its fourth quarter and fiscal year 2017 financial results next month on December 6th.

Access RDI's Broadcom Limited Research Report at:
https://rdinvesting.com/news/?ticker=AVGO

Applied Materials, Inc. shares closed up 3.71% on almost 17 million shares traded yesterday. The stock hit a new high of $58.00 during intra-day trading after the company posted strong earnings results and guidance. The semiconductor company posted results and guidance that both topped expectations. For the fourth quarter, Applied Materials posted net income of $982 million or 91 cents a share. Adjusted EPS was 93 cents a share on revenue of $3.97 billion. Analysts had expected 91 cents a share on revenue of $3.94 billion. Looking ahead towards the fiscal first quarter, the company has forecast EPS in the range of 94 cents to $1.02 on revenue of $4 billion to $4.2 billion. Analysts had expected EPS of 91 cents on revenue of $3.97 billion. CEO Gary Dickerson is optimistic and said the company expects "strong double-digit growth" in 2018 for all lines of the business. He remarked "This is the most exciting time in the history of the electronics industry," said Dickerson. "AI will transform entire industries over the coming years, creating trillions of dollars of economic value, and Applied is uniquely positioned to deliver the innovative materials needed to enable next-generation memory and high-performance computing." Shares are up 79% YTD going by the company's closing price yesterday.

Access RDI's Applied Materials, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=AMAT

Our Actionable Research on Broadcom Limited (NASDAQ: AVGO) and Applied Materials, Inc. (NASDAQ: AMAT) can be downloaded free of charge at Research Driven Investing.

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