Applied Materials Inc. shares surged to a record after the company delivered a surprisingly upbeat sales forecast, signaling that demand for artificial intelligence and memory semiconductors is fueling equipment purchases.

Applied Materials must pay a $252 million civil penalty to settle allegations that it illegally exported semiconductor manufacturing equipment to SMIC subsidiaries.

Feb 13 (Reuters) - Applied Materials' shares jumped 11.7% in premarket trading on Friday as investors bet that surging AI demand and a tightening memory market will continue to drive orders for the company's chipmaking tools,

The agreement resolves allegations by the Commerce Department’s Bureau of Industry and Security that certain shipments to China between November 2020 and July 2022 didn’t comply with export

On the charts, AMAT has steadily climbed since September's pullback, consistently finding support at its 60-day moving average. The stock is now up roughly 200% from its April lows and if today's gains stick, will notch its third win in the last five sessions.

Here’s what could happen to Applied Materials shares next.

Applied Materials shares jump 12 per cent after earnings beat and 20 per cent growth forecast driven by AI and memory chip demand.

Applied Materials shares soared Friday after the maker of chip manufacturing equipment said that profits jumped more than 70% in the latest quarter amid booming demand from data centers.

Applied Materials has reached an agreement with the U.S. Department of Commerce over alleged violations of controls on exports to China.

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