Diamonds and Dogs
2/16/24
Applied Materials continues to chug along thanks to AI demand. AMAT is up 8% to new highs on better than expected earnings and sales for the fourth quarter. Sales actually declined, but gross margins improved by 110 basis points. Guidance was better than expected as AI chip makers will need more equipment in the coming years.
Roku (ROKU) taking a hit. The TV streaming platform is down 23% to a four-month low on lackluster earnings. Earnings actually beat due to cost cuts, but still reported a loss. Sales grew 13%, but growth has been slowing for Roku. Guidance for the first quarter was weak. Advertising could help the company and stock longer term, but has yet to produce any results.
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