Applied Materials sinks 14% on weak guidance due to China demand
Applied Materials shares plunged14% after the semiconductor equipment maker issued weak guidance as it faces demand pressures in China. The company forecast adjusted earnings per share of $2.11, falling short of the $2.39 per share expected by LSEG. The company projected $6.7 billion in revenue, versus the $7.34 billion estimate. During an earnings call with analysts, CEO Gary Dickerson said that the current macroeconomic backdrop and trade issues have fueled "increasing uncertainty and lower