Reported 5 months ago
The US Department of Commerce is extending its investigation into chip-gear maker Applied Materials Inc. due to concerns about shipments to Chinese customers and compliance with trade restrictions. Applied Materials has received subpoenas from the Commerce Department’s Bureau of Industry and Security, as well as inquiries from the US Attorney’s Office and the Securities and Exchange Commission. The company is cooperating with the government but cannot predict the outcome or potential penalties related to these matters. The investigation is part of broader efforts to restrict the export of advanced chipmaking equipment to China to protect national security, impacting companies like Applied Materials that rely on Chinese markets for revenue.
Source: YAHOO