🔴 Applied Materials is trading 3.4% down today as investors reassess AI chip valuations

Applied Materials is trading 3.4% down at $120.75 as investors continue to reassess elevated AI chip valuations amid a broader semiconductor selloff.

• The move aligns with profit-taking in richly valued equipment names as enthusiasm for the AI trade cools.
• Sector weakness intensified following a decline in SK Hynix, weighing on the broader semiconductor equipment space.