Company Of The Day: Applied Materials
Applied Materials (NASDAQ:AMAT) has lowered its outlook for Q4 FY’22 (ending October 30), projecting net sales of about $6.4 billion, plus or minus $250 million compared to a prior outlook of $6.65 billion, plus or minus $400 million. Adjusted EPS outlook has been lowered to a range of $1.54 to $1.78 down from a range of $1.82 to $2.18.
The lower guidance is largely due to new export regulations by the U.S. government relating to U.S. semiconductor technology sold in China.
AMAT stock was down by about 1% in pre-market trading on Thursday and remains down by almost 50% year-to-date.
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