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Jerome Dodson Comments on Applied Materials

The Fund's best performer was Applied Materials ( NASDAQ:AMAT ), the semiconductor-equipment manufacturer. The stock soared 72.8% during the year, from $18.67 to $32.27, increasing the Fund's return by an astounding 216 basis points. Demand accelerated for the company's equipment, spurred by the transition in NAND-flash memory architecture from planar to 3D and the adoption of organic light-emitting diode ( OLED ) screens in smartphones. Investors celebrated, as new orders and product backlog both hit all-time highs and the company forecasted more growth at its analyst meeting in September.

From the Parnassus Fund fourth quarter 2016 commentary .

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This article first appeared on GuruFocus .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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