💨 Abstract

Applied Materials, a leading chipmaking equipment supplier, forecasts Q1 revenue below Wall Street estimates due to sluggish demand outside of AI-powered chips, and uncertain export curbs to China. The weakness in certain markets and increased competition from KLA Corp, Lam Research, and ASML Holding are impacting the industry. Applied's shares dropped 5% in extended trading, with the company expecting Q1 revenue of $7.15

Courtesy: theprint.in

Summarized by Einstein Beta 🤖