Applied Materials is trading at $82.20, down 5.30%, as investors reacted to Lam Research’s outlook and concerns about returns on AI spending. - On October 22, broader technology weakness and risk-off sentiment added pressure. - The October 13 investor day left near-term wafer-fab equipment spending guidance unspecified, a concern cited as weighing on shares. No new major company-specific announcement explaining the intraday move was identified.