KLA Stock Bounces Back From Chip Selloff After Earnings. Here’s Why.
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The chip sector is going through a rough patch, but the latest earnings report from KLA proves there are still bright spots to be found. KLA a chip-testing company based in California, said late Wednesday that it earned $6.60 a share in its June quarter, flying past Wall Street’s call for $6.15, according to FactSet. For its current fiscal first quarter ending in September, KLA is calling for adjusted earnings of $7 per share, plus or minus 60 cents, while analysts had penciled in $6.95 a share.