Abnormal movement in US stocks | Applied Materials (AMAT.US) fell more than 12% as fourth quarter performance guidance falls below expectations

According to the Securities Times app, on Friday, Applied Materials (AMAT.US) fell more than 12%, marking its largest decline since March 2020, to $165.49. On the news front, the company issued disappointing sales and profit forecasts, once again raising concerns about suppressed demand in the US-China trade. The financial report shows that in the third fiscal quarter ending July 27, Applied Materials' quarterly revenue increased by 8% year-on-year to $7.3 billion, higher than analysts' average expectations of $7.21 billion; adjusted net profit was $1.989 billion, up 13% year-on-year; adjusted earnings per share were $2.48, also higher than analysts' average expectations of $2.36.