Applied Materials (AMAT) shares fell for nine consecutive sessions.
The stock suffered a cumulative decline of 24.5%. This losing streak erased approximately $105.6 billion in market capitalization. Shares closed at $409.29 on Friday, October 16.
The sell-off followed the company’s investor day and the unveiling of its new EPIC research center. The decline appeared company-specific, as the S&P 500 fell only 1.4% during the same period.