Currently reigning as one of the top performing stocks in the technology sector, Applied Materials, Inc. (NASDAQ:$AMAT) has seen a rise in share price. In other words, here’s why it’s time to add AMAT shares to your portfolio if you haven’t taken advantage of the share price appreciation yet.

Share Price Appreciation

Looking at the company’s price trend reveals that the stock has had a steady run on the bourse year to date. Specifically, AMAT returned 59.8%, comparing to that of the S&P’s 13.1%.

Solid Rank & VGm Score

AMAT currently sees a Zacks Rank #1, which is a strong buy. Similarly, it also sees a VGM Score of B. When a stock sees the combination of VGM Score of A or B with a Zacks Rank #1 or #2, this means that it is the best possible investment opportunity for investors.

Positive Earnings Surprise History

AMAT has an impressive earnings surprise history. The company outperformed the Zacks Consensus Estimate in the past four quarters, delivering a positive average earnings surprise of 2.7%.

Strong Growth Drivers

AMAT’s 2017 earnings of $3.23 reflects year-over-year growth of 84.3%. Further, this number is expected to increase by 14.5 % in 2018. That means the stock sees long-term expected earnings per share growth rate of 17.1%.

New Innovations

AMAT is focusing on inflection-focused innovation strategy that is currently its primary growth driver. With the ramp-up of 3D NAND, the company hopes to see market share gains. Further, the company remains strongly positioned in China where it continues to witness robust growth in semiconductor and display. AMAT will undoubtedly tap into this Asian market more for its OLED technologies.

All in all, AMAT is at its prime position to excel sustainability and profitably. It has a diverse pipeline of enabling technologies, backed by expanding opportunities on the semiconductor, service and display fronts.

Featured Image: depositphotos/everythingposs