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AUGUST 2019       TAP TIMES          -8-


                Applied Materials (from 7)




        Ultimately, this will probably be a good
        deal for Applied Materials.




        Q219 sales of $3.54 billion
        Although hit by the general industry dol-
        drums, Applied still managed to eke out
        net sales of $3.54 billion in the second
        quarter this year (versus $4.58 billion for
        the same quarter last year).

        The company also returned $814 million to
        shareholders and dividends of $189 mil-
        lion, while approving a 5 percent increase
        in its stock dividend.


        “In the second fi scal quarter,” said Ap-
        plied’s Dickerson, “Applied delivered re-
        sults toward the top end of our guidance
        range.



        A positive view
        Looking ahead,” he added, “we maintain
        a positive view of our markets as power-
        ful new demand drivers  for semiconductor
        and displays, creating tremendous oppor-
        tunities.”


        Dickerson’s prediction for fi scal Q319,
        however, is not glowing, just $3.52 bil-
        lion, with non-GAAP adjusted, diluted EPS
        of $0.67-0.75. Last year, Applied reported
        earnings for Q3 at $4.46 billion.


        The new acquisition places great pressure
        on semiconductor equipment maker ASML.

        We have to wonder if we will see a com-
        plementary acquisition by the Dutch ASML
        or Lam Research, another domestic pro-
        vider.  Both companies were in a virtual tie
        for second place among equipment sellers,
        as of their last quarterly earnings’ reports.
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