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Applied materials Stocks plunged over 13% after a semiconductor manufacturer Issued by a weak guide How to face pressure in China.
The company predicted a $ 2.11 profit for this quarter, not in line with $ 2.39 per share expected by LSEG. The company predicted $ 6.7 billion, and $ 7.34 billion.
During the salary with analysts, CEO Gary Dickesson said the current macroeconomic background and trading problems caused “increased uncertainty and less visibility”, primarily in his Chinese business.
He also stated that the instructions did not take into account the applications for export licenses and provides a significant lag.
Applied materials also refer to weakness from leading marginal clients and said that Chinese customers mitigate costs after rapidly increasing equipment production in the region.
Bank of AmericaVivek Arya downgraded the shares to a neutral ranking and reduced the target price, citing long China and leading wind.
“The uncertainty can be stored, making it tougher to transform the shares, despite a reasonable assessment,” he wrote. “We suspect that slowing the company is more specific.”
Despite the weak recommendations, the approximate materials led the income and the profit in the third quarter, placing a $ 2.48 profit for $ 7.3 billion. Net income reached $ 1.78 billion, or $ 2.22 per share, against $ 1.71 billion, or $ 2.05 per share a year ago.
