This Tech Stock Could Jump Higher Following 30% Gains

Share prices of Applied Materials (NASDAQ: AMAT) have jumped close to 30% since the beginning of July thanks to the rally in semiconductor stocks, which may seem a tad surprising given some troubling forecasts from some of the industry's bellwethers such as Nvidia and Intel. The slowing demand for personal computers, graphics cards, and smartphones doesn't bode well for the semiconductor industry in general and Applied Materials in particular. A closer look at the developments in the semiconductor industry will tell us why that may be the case.