Lates News

The third time's the charm for Applied Materials, one of America's largest chip equipment producers. This quarter's sales and profit forecast have disappointed again, sparking concerns about the trade dispute suppressing demand. The company's stock price plummeted after hours. Applied Materials expects revenue for the quarter ending in October to be around $6.7 billion, far below analysts' average estimate of $7.32 billion. The company expects earnings per share of $2.11, excluding certain items, also lower than analysts' estimated $2.38. Applied Materials CEO Gary Dickerson, in an interview, mentioned decreasing demand from some customers and delays in approval for technology exports. Additionally, ongoing tariff negotiations and other economic factors have led large customers to postpone some purchases. Applied Materials' stock price fell by 12% after hours. As of Thursday's close, the company's stock had risen by 16% for the year, closing at $188.24 on Thursday. In the previous quarter, Applied Materials reported a 7.7% year-over-year increase in revenue to $7.3 billion, higher than analysts' average estimate of $7.21 billion, and earnings per share of $2.48, also beating the estimated $2.36.