Why did KLA stock fall on 6 October?
Written after the close on
KLA −4.54%
KLA fell sharply in the last session, likely because investors took profits after a strong run and fretted about its rich valuation. Over the last five trading days KLA was roughly unchanged, lagging a clearly higher S&P 500 and a sharply higher technology sector. The pullback came even as the company guided fiscal first-quarter revenue to about $4.0 billion and highlighted accelerating demand for its process-control and inspection tools, and as softer U.S. employment data eased interest-rate pressure on growth stocks. What to watch next is KLA's earnings report in late October, when it will update how quickly it converts its roughly $12.5 billion backlog into shipments.
Next report: · Add to calendar · Google Calendar