Applied Materials Inc. shares outperformed their peers and the broader market Tuesday after the chip-making equipment company unveiled a system that promises a lower cost way of etching the transistors into the silicon wafers used to make semiconductors.
Applied Materials AMAT shares rose more than 5% to an intraday high of $118.07, while the PHLX Semiconductor Index SOX, which tracks Applied Materials and 29 other components of the semiconductor industry, was up 1.2%.
On…
