🔴 Applied Materials is trading 6.5% down today as Lam Research earnings reportedly trigger sector selling

Applied Materials is trading at $382.45 (-6.48%) as Lam Research’s earnings reaction reportedly triggered selling across chip-equipment stocks at 9:44 a.m. ET on October 22.

• Lam Research fell more than 6% after hours despite beating estimates, amid supply constraints and concerns about China demand.
• Broader caution about returns on AI investment and weakness in technology shares are additional pressure; the decline does not reflect a new Applied Materials announcement.