Applied Materials Suffers Worst Rout Since 2020 on China Woes

Applied Materials Inc.suffered the worst single-day stock decline in five years after giving a disappointing sales and profit forecast, renewing concerns that the US trade dispute with China is weighing on demand.

Revenue will be approximately $6.7 billion in the fiscal fourth quarter, the company said in a statement Thursday. Analysts had estimated $7.32 billion on average. Profit will be about $2.11 a share, excluding some items, compared with a projection of $2.38.

Applied Materials CEO Gary Dickerson said tariffs and other economic issues have brought “a level of uncertainty.”

Photographer: I-Hwa Cheng/Bloomberg

Applied Materials, the largest American producer of chipmaking gear, is seeing less demand from customers in China, Chief Executive Officer Gary Dickerson said in an ...