DCF Conclusion Study on Applied Materials (AMAT)

AMAT is a Top 5 Stock within SOXX ETF and a big contributor for Nasdaq-100

Hi Everyone!

2H 2024 is here and it’s already off to a tremendous start! Quick market recap, and then the DCF Conclusion Study on Applied Materials.

From my pre-market note to members this morning, I highlighted that “intraday craters in tech NQ are going to be bought”.

Based on my observation, the market is still mean-reverting which means that rallies get faded and craters get bought.

We had a crater today shortly after the opening bell. That crater got bought for almost 200 points of upside from the lows!

Today we’ll discuss Applied Materials (AMAT) which I view as a key stock within NQ while also being a Top 5 stock within the Semiconductor SOXX ETF.