Applied Materials Stock Holds Up Despite Q2 Earnings Miss

• Applied Materials (AMAT) stock fell less than the broader market despite missing Q2 earnings expectations • AMAT earnings expected to decline 2% year-over-year to $1.96 per share for Q2 • Revenue for Q2 expected to fall 1.74% year-over-year to $6.51 billion • AMAT has a Zacks Rank of #2 (Buy) based on positive estimate revisions • AMAT valuation looks attractive compared to industry averages, with lower P/E and PEG ratios