Applied Materials is trading at $97.40, down 8.54%, with the decline driven mainly by semiconductor-sector concerns.
- At its October 13 investor day, Applied Materials gave no specific wafer-fabrication-equipment spending forecast, disappointing investors seeking clearer near-term demand guidance.
- Semiconductor stocks faced selling amid fears about Chinese chipmaker CXMT’s technology progress and doubts about AI spending.
- Hotter-than-expected headline inflation added pressure to growth shares; the company’s earlier outlook omission was an additional catalyst.