Applied Materials (AMAT) Was Disappointing, Says Jim Cramer

We recently published 10 Stocks Jim Cramer Talked About & Revealed Why He’s Critical Of OpenAI. Applied Materials Inc (NASDAQ:AMAT) is one of the stocks Jim Cramer talked about.

Applied Materials Inc (NASDAQ:AMAT) is a semiconductor manufacturing equipment provider. Along with its peers and memory chip companies, Cramer has been hopeful about the firm’s prospects lately. He believes that Applied Materials Inc (NASDAQ:AMAT) can benefit from the high demand for AI chips due to the corresponding increase in demand for high bandwidth memory. In this appearance, Cramer discussed the firm’s earnings report that saw Applied Materials Inc (NASDAQ:AMAT) warn about slowing sales in China:

“The AMAT was disappointing. And I just, because I know I already took a hit. People are selling Lam down very badly. I think that’s a mistake because Lam also took the hit. Some people are better at explaining a hit than others. They do have high bandwidth memory for Lam, that’s very good. If you want to distinguish these.”

Photo by JESHOOTS.COM on Unsplash

Here are Cramer’s previous comments about Applied Materials Inc (NASDAQ:AMAT):

“Of those, I think the one that is very exciting to me, uh, is AMAT. When you look at say, uh, let’s say you do . . .AMAT. These were companies, no one thought there would be such a huge rush to have most high bandwidth memory. . . And that’s these companies. You need them. So I think that AMAT’s going to be absolutely, I think it could be terrific, even from these levels.”

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Disclosure: None. This article is originally published at Insider Monkey.