Applied Materials' Sales Drop Amid US-China Trade Tensions

Applied Materials, a leading chip equipment manufacturer, experienced a five percent drop in share price due to predicted reduced spending from China next year, stemming from U.S. export restrictions. Despite this, the companys sales impact may not be as severe as anticipated, as Chinas share of sales has decreased to twenty-five percent. Applied Materials remains optimistic about overall revenue growth and has seen a thirty-seven percent stock increase this year, with brokerage firms raising their price targets.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.