Applied Materials gives dour quarterly revenue forecast as export curbs tighten; shares fall
Revenue from China, Applied's largest market by revenue share in the first quarter, is threatened by tighter U.S. restrictions on exports of chipmaking technology. The U.S. government said in December that new controls will be placed on the export of semiconductor manufacturing equipment needed to produce advanced-node chips to China, hitting Applied Materials. Applied Materials forecast second-quarter revenue of about $7.1 billion, plus or minus $400 million, compared with the analysts' average estimate of $7.21 billion, according to data compiled by LSEG.