What Applied Materials’ Poor Outlook Means for Chip Stocks

Late Thursday, Applied Materials forecast a range of revenue for the October quarter with a midpoint of $6.7 billion, below the consensus view of $7.33 billion. “We are currently operating in a dynamic macroeconomic and policy environment, which is creating increased uncertainty and lower visibility in the near term, including for our China business,” Applied Materials CEO Gary Dickerson said in a news release. Applied Materials stock dropped 11% to $166.99 in early trading Friday.

Continue Reading