Benzinga | Sep 14, 2020 03:34PM EDT

Why Applied Materials Is Trading Higher Today

Applied Materials (NASDAQ:AMAT) shares are trading higher today.

The shares of semiconductor companies are trading higher amid a rebound in tech names and after Nvidia announced the $40 billion acquisition of chipmaker Arm Holdings.

Applied Materials is one of the world's largest suppliers of semiconductor manufacturing equipment, providing materials engineering solutions to help make nearly every chip in the world. The firm's systems are used in nearly every major process step with the exception of lithography.

Applied Materials shares were trading up 2.94% at $56.62 during the time of publication Monday. The stock has a 52-week high of $26.98 and a 52-week low of $15.76.