This High-Growth Tech Stock Is Still a Great Buy

The semiconductor market is facing a supply crisis in 2021, and Applied Materials (NASDAQ: AMAT) is all set to make the most of it, as the company's latest quarterly results indicate. The supplier of semiconductor fabrication equipment and services handsomely beat Wall Street's fiscal 2021 first-quarter expectations. This wasn't surprising, as Applied Materials was riding on solid tailwinds going into the quarterly report, the biggest being a global shortage of chips that could trigger increased capital expenditures by chipmakers this year.