Reported 2 days ago
Applied Materials Inc. experienced its worst single-day stock decline in five years, plummeting 14% after announcing disappointing sales and profit forecasts, largely due to reduced demand from China amid ongoing trade tensions. CEO Gary Dickerson cited uncertainty from tariffs and economic issues affecting customer purchases, while the company continues to face delays in technology exports to China. Despite a strong long-term outlook for computing power, current market conditions present challenges for the leading chipmaking equipment supplier.
Source: YAHOO