Applied Materials (NASDAQ:AMAT) stock has dropped to a local bear market, moving from the year-to-date high of $740 to the current $539.15.
This retreat coincided with the decline of other artificial intelligence (AI) stocks as investors booked profits.
Traders and investors are now focusing on the upcoming quarterly results on August 13.
Applied Materials Stock Has Dropped Ahead of Earnings AMAT stock has retreated sharply in the past few weeks, and this performance will be put to the test as it releases its financial results.
The most recent results showed that its revenue jumped by 11% in the second fiscal quarter to $7.9 billion.
