Applied Materials

Applied Materials (AMAT), the largest maker of chipmaking equipment after ASML, selling the tools that deposit, etch and polish the layers on a wafer and implant ions into it. A second business sells spare parts, upgrades and service contracts on the tools already installed, which keeps earning between equipment cycles. Founded in Santa Clara in 1967. AMAT here is a Robinhood Stock Token from Robinhood Assets (Jersey) Limited, backed by Applied Materials shares held at Alpaca Securities; dividends are reinvested into more shares and show up as a rising multiplier on the token balance.