APPLIED MATERIALS, INC.  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) 98 The following table summarizes information with respect to options outstanding and exercisable at October 28, 2012:
## Table 0 ##
Option prices at the lower end of the range were principally attributable to stock options assumed in connection with the Varian acquisition in fiscal year 2012.
Restricted Stock Units, Restricted Stock, Performance Shares and Performance Units Restricted stock units are converted into shares of Applied common stock upon vesting on a one-for-one basis.
Restricted stock has the same rights as other issued and outstanding shares of Applied common stock except these shares have no right to dividends and are held in escrow until the award vests.
Performance shares and performance units are awards that result in a payment to a grantee in shares of Applied common stock on a one-for-one basis if performance goals and/or other vesting criteria established by the Human Resources and Compensation Committee of Applied's Board of Directors (the Committee) are achieved or the awards otherwise vest.
Restricted stock units, restricted stock, performance shares and performance units typically vest over four years and vesting is usually subject to the grantee’s continued service with Applied and, in some cases, achievement of specified performance goals.
The compensation expense related to the service-based awards is determined using the fair market value of Applied common stock on the date of the grant, and the compensation expense is recognized over the vesting period.
Restricted stock units, restricted stock, performance shares and performance units granted to certain executive officers and other key employees are also subject to the achievement of specified performance goals (performance-based awards).
These performance-based awards become eligible to vest only if performance goals are achieved and then actually will vest only if the grantee remains employed by Applied through each applicable vesting date.
The fair value of these performance-based awards is estimated on the date of the grant and assumes that the specified performance goals will be achieved.
If the goals are achieved, these awards vest over a specified remaining service period of generally three or four years, provided that the grantee remain employed by Applied through each scheduled vesting date.
If the performance goals are not met, no compensation expense is recognized and any previously recognized compensation expense is reversed.
The expected cost of each award is reflected over the service period and is reduced for estimated forfeitures.
For performance-based awards granted during fiscal 2011 and 2010, the performance goals require (i) the achievement of targeted adjusted annual operating profit margin levels compared to Applied’s peer companies in at least one of the four fiscal years beginning with the fiscal year of the grant, and (ii) that Applied’s annual adjusted operating profit margin is positive in such year.
An award that has become eligible for time-based vesting based on achievement of the performance goals will vest over approximately four years from the date of grant, provided that the grantee remains employed by Applied through each scheduled vesting date.
Performance-based awards that do not become eligible for time-based vesting in a particular year may become eligible for time-based vesting in subsequent years up until the fourth fiscal year after grant, after which they are forfeited if the required performance goals have not been achieved.
In fiscal 2012, the Committee granted performance-based awards that require the achievement of positive and relative adjusted operating profit margin goals in a manner generally similar to the previously granted performance-based awards.
For the fiscal 2012 awards, additional shares become eligible for time-based vesting depending on certain levels of achievement of Applied's total shareholder return (TSR) relative to a peer group comprised of companies in the Standard & Poor's 500 Information Technology Index measured at the end of a two-year period.
New orders and net sales for fiscal 2014 increased compared to the prior year reflecting strong TV manufacturing capacity expansions.
Operating income and non-GAAP adjusted operating income increased over the prior year, due primarily to higher net sales, sales of tools for which inventory had been written down previously, better installation and warranty performance, and material and manufacturing cost reductions, partially offset by increased research and development expenses.
Four customers accounted for approximately 87 percent of new orders for the Display segment in fiscal 2014, with two customers accounting for approximately 50 percent of new orders.
Four customers accounted for approximately 77 percent of net sales for this segment in fiscal 2014, with one customer accounting for approximately 40 percent of net sales.
In the fourth quarter of fiscal 2014, new orders were $130 million, down 56 percent from the prior quarter, primarily reflecting continued variability in industry order patterns.
Net sales in the fourth quarter of fiscal 2014 were $190 million, up 60 percent compared to the prior quarter as a result of shipment of TV manufacturing equipment to customers in China.
Fiscal 2013 operating results reflected a recovery in demand for TV manufacturing equipment and continued demand for advanced mobile display equipment, which resulted in increased new orders, net sales, operating income and non-GAAP adjusted operating income compared to fiscal 2012.
Two customers accounted for approximately 50 percent of net sales for the Display segment in fiscal 2013.
Energy and Environmental Solutions Segment The Energy and Environmental Solutions segment includes products for fabricating crystalline-silicon (c-Si), solar PV wafers and cells, as well as high throughput roll-to-roll deposition equipment for flexible electronics, packaging and other applications.
This business is focused on delivering solutions to generate and conserve energy, with an emphasis on lowering the cost to produce solar modules and increasing conversion efficiency.
While end-demand for solar PVs has been robust over the last several years, investment in capital equipment remained low as global PV production capacity exceeds anticipated demand.
The solar equipment environment improved slightly in fiscal 2014 compared to the previous year.
Certain significant measures for the past three fiscal years were as follows:
## Table 1 ##
Reconciliations of non-GAAP adjusted measures are presented under "Non-GAAP Adjusted Results" below.
Manufacturing, Raw Materials and Supplies Applied’s manufacturing activities consist primarily of assembly, test and integration of various proprietary and commercial parts, components and subassemblies that are used to manufacture systems.
Applied has implemented a distributed manufacturing model under which manufacturing and supply chain activities are conducted in various countries, including Germany, Israel, Italy, Singapore, Taiwan, the United States and other countries in Asia.
Applied uses numerous vendors, including contract manufacturers, to supply parts and assembly services for the manufacture and support of its products, including some systems being completed at customer sites.
Although Applied makes reasonable efforts to assure that parts are available from multiple qualified suppliers, this is not always possible.
Accordingly, some key parts may be obtained from only a single supplier or a limited group of suppliers.
Applied seeks to reduce costs and to lower the risks of manufacturing and service interruptions by selecting and qualifying alternate suppliers for key parts; monitoring the financial condition of key suppliers; maintaining appropriate inventories of key parts; qualifying new parts on a timely basis; and ensuring quality and performance of parts.
Research, Development and Engineering Applied’s long-term growth strategy requires continued development of new materials engineering capabilities, including products and platforms that enable expansion into new and adjacent markets.
Applied’s significant investments in research, development and engineering (RD&E) must generally enable it to deliver new products and technologies before the emergence of strong demand, thus allowing customers to incorporate these products into their manufacturing plans during early-stage technology selection.
Applied works closely with its global customers and ecosystem partners to design systems and processes that meet planned technical and production requirements.
Applied’s product development and engineering organizations are located primarily in the United States, as well as in Canada, China, Europe, India, Israel, Singapore and Taiwan.
In addition, certain outsourced RD&E activities, process support and customer demonstrations are performed in the United States, India, China, Singapore and Taiwan.
Marketing and Sales Because of the highly technical nature of its products, Applied markets and sells products worldwide almost entirely through a direct sales force.
Applied has operations in many countries, with some of its business activities concentrated in certain geographic areas, and global and regional economic conditions can impact the company’s business and financial results.
Applied’s business is based on capital equipment investments by major semiconductor, display and other manufacturers, and is subject to significant variability in customer demand for Applied’s products.
Customers’ expenditures depend on many factors, including: general economic conditions; anticipated market demand and pricing for semiconductors, display technologies and other electronic devices; the development of new technologies; customers’ factory utilization; capital resources and financing; and government policies and incentives.
In addition, a significant driver in the semiconductor and display industries is end-demand for mobile consumer products, which is characterized by seasonality that impacts the timing of customer investments in manufacturing equipment and, in turn, Applied’s business.
Information on net sales to unaffiliated customers and long-lived assets attributable to Applied’s geographic regions is included in Note 15 of Notes to Consolidated Financial Statements.
The following companies accounted for at least 10 percent of Applied’s net sales in each fiscal year, which were for products and services in multiple reportable segments.
## Table 2 ##
PART II Item 5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Market Information Applied’s common stock is traded on the NASDAQ Global Select Market under the symbol AMAT.
As of December 7, 2018, there were 2,854 registered holders of Applied common stock.
Performance Graph The performance graph below shows the five-year cumulative total stockholder return on Applied common stock during the period from October 27, 2013 through October 28, 2018.
This is compared with the cumulative total return of the Standard & Poor’s 500 Stock Index and the RDG Semiconductor Composite Index over the same period.
The comparison assumes $100 was invested on October 27, 2013 in Applied common stock and in each of the foregoing indices and assumes reinvestment of dividends, if any.
Dollar amounts in the graph are rounded to the nearest whole dollar.
The performance shown in the graph represents past performance and should not be considered an indication of future performance.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN* Among Applied Materials, Inc. , the S&P 500 Index and the RDG Semiconductor Composite Index
## Table 3 ##

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="4">Options Outstanding</td><td colspan="3">Options Exercisable</td></tr><tr><td>Range ofExercise Prices</td><td>Number ofShares (In millions)</td><td>WeightedAverageExercisePrice</td><td>WeightedAverageRemainingContractualLife (In years)</td><td>AggregateIntrinsicValue (In millions)</td><td>Number ofShares (In millions)</td><td>WeightedAverageExercisePrice</td><td>AggregateIntrinsicValue (In millions)</td></tr><tr><td>$3.09 — $9.99</td><td>15</td><td>$7.68</td><td>1.80</td><td>$43</td><td>14</td><td>$7.80</td><td>$40</td></tr><tr><td>$10.00 — $19.99</td><td>6</td><td>$17.11</td><td>0.57</td><td>—</td><td>6</td><td>$17.11</td><td>—</td></tr><tr><td></td><td>21</td><td>$10.53</td><td>1.43</td><td>$43</td><td>20</td><td>$10.71</td><td>$40</td></tr><tr><td>Options exercisable and expected to become exercisable</td><td>21</td><td>$10.53</td><td>1.43</td><td>$43</td><td></td><td></td><td></td></tr></table>
<table><tr><td rowspan="2"></td><td></td><td></td><td></td><td colspan="4">Change</td></tr><tr><td>2014</td><td>2013</td><td>2012</td><td colspan="2">2014 over 2013</td><td colspan="2">2013 over 2012</td></tr><tr><td></td><td colspan="7">(In millions, except percentages and ratios)</td></tr><tr><td>New orders</td><td>$238</td><td>$166</td><td>$195</td><td>$72</td><td>43%</td><td>$-29</td><td>-15%</td></tr><tr><td>Net sales</td><td>279</td><td>173</td><td>425</td><td>106</td><td>61%</td><td>-252</td><td>-59%</td></tr><tr><td>Book to bill ratio</td><td>0.9</td><td>1.0</td><td>0.5</td><td></td><td></td><td></td><td></td></tr><tr><td>Operating income (loss)</td><td>15</td><td>-433</td><td>-668</td><td>448</td><td>103%</td><td>235</td><td>35%</td></tr><tr><td>Operating margin</td><td>5.4%</td><td>-250.3%</td><td>-157.2%</td><td></td><td>255.7 points</td><td></td><td>-93.1 points</td></tr><tr><td>Non-GAAP Adjusted Results</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Non-GAAP adjusted operating income (loss)</td><td>21</td><td>-115</td><td>-184</td><td>136</td><td>118%</td><td>69</td><td>38%</td></tr><tr><td>Non-GAAP adjusted operating margin</td><td>7.5%</td><td>-66.5%</td><td>-43.3%</td><td></td><td>74.0 points</td><td></td><td>-23.2 points</td></tr></table>
<table><tr><td></td><td>2018</td><td>2017</td><td colspan="2">2016</td></tr><tr><td>Samsung Electronics Co., Ltd.</td><td>13%</td><td>23%</td><td>13%</td><td>Taiwan Semiconductor Manufacturing Company Limited</td></tr><tr><td>11%</td><td>15%</td><td>16%</td><td>Micron Technology, Inc.</td><td>*</td></tr><tr><td>*</td><td>11%</td><td>Intel Corporation</td><td>11%</td><td>*</td></tr><tr><td>11%</td><td></td><td></td><td></td><td></td></tr></table>
<table><tr><td></td><td>10/27/2013</td><td>10/26/2014</td><td>10/25/2015</td><td>10/30/2016</td><td>10/29/2017</td><td>10/28/2018</td></tr><tr><td>Applied Materials</td><td>100.00</td><td>121.04</td><td>96.67</td><td>171.69</td><td>343.16</td><td>198.27</td></tr><tr><td>S&P 500 Index</td><td>100.00</td><td>117.27</td><td>123.37</td><td>128.93</td><td>159.40</td><td>171.11</td></tr><tr><td>RDG Semiconductor Composite Index</td><td>100.00</td><td>128.42</td><td>126.26</td><td>154.41</td><td>232.29</td><td>221.61</td></tr></table>

Question: In the year with the most new orders, what is the growth rate of net sales?
Answer: 0.61272
Reasoning program: subtract(279,173), divide(#0,173)