Applied Materials Q1 revenue guidance falls short of expectations, triggering concerns over chip demand.
applied materials announced its fourth quarter performance.
US stock market anomaly | Applied Materials dropped more than 9%, first-quarter revenue guidance lower than expected.
On November 15, Glcon Note reported that applied materials (AMAT.US) fell over 9%, closing at 167.5 dollars. In terms of news, applied materials announced its fourth-quarter results, with revenue increasing by 5% year-on-year to 7.05 billion dollars, exceeding analysts' expectations of 6.95 billion dollars; the adjusted eps was 2.32 dollars, surpassing the analysts' forecast of 2.19 dollars. However, the revenue guidance for the first quarter of applied materials fell short of Wall Street's expectations, indicating weak demand for semiconductor manufacturing equipment. The company expects revenue for the first quarter to range between 6.75 billion and 7.55 billion dollars, with the midpoint lower than analysts' expectations.
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Applied Materials Stock Drops, Chip-Equipment Rivals Fall -- WSJ
U.S. stock market early session | All three major indexes fell, disney rose more than 3% against the trend; “Trump trade” warmed up! DJT rose more than 3%, Tesla and MSTR rose over 2%.
As of the time of publication, the Dow Jones Industrial Average fell by 0.40%, the Nasdaq fell by 1.19%, and the s&p 500 index fell by 0.67%.
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