Core Viewpoint - Applied Materials' stock price continued to decline in after-hours trading, dropping by 4.5% [1] Group 1 - The decline in stock price indicates ongoing market challenges for Applied Materials [1]

Core Insights - Applied Materials reported fourth-quarter sales of $6.8 billion, exceeding analyst expectations of $6.67 billion [2] Financial Performance - Fourth-quarter sales reached $6.8 billion, which is higher than the anticipated $6.67 billion by analysts [2]

Market Overview - U.S. stock futures showed mixed movements following a mixed trading session on Wednesday, with major benchmark indices reflecting varied changes [1][3] - The 10-year Treasury bond yielded 4.08%, while the two-year bond was at 3.57%, indicating market expectations for potential interest rate cuts by the Federal Reserve [2] Company Performance - Cisco Systems Inc. (NASDAQ:CSCO) saw a premarket increase of 7.04% after reporting positive financial results for the first quarter, maintaining a stronger price trend across all time frames despite a poor value ranking [7] - Walt Disney Co. (NYSE:DIS) was up 0.29% ahead of its earnings report, with analysts predicting earnings of $1.04 per share on revenue of $22.75 billion, also showing a strong price trend [8] - Applied Materials Inc. (NASDAQ:AMAT) rose 0.55% as analysts expect earnings of $2.10 per share on revenue of $6.67 billion, maintaining a strong price trend [8] - SoundThinking Inc. (NASDAQ:SSTI) fell 3.32% after reporting disappointing third-quarter results and lowering its FY25 sales guidance, reflecting a weaker price trend [8] - Dlocal Ltd. (NASDAQ:DLO) dropped 11.37% despite beating third-quarter estimates, as its gross profit margin declined to 37% from 42% year-over-year, indicating a weaker price trend in the short and medium terms [8] Sector Performance - Most sectors on the S&P 500 closed positively, with healthcare, financial, and materials stocks recording the largest gains on Wednesday [5] Analyst Insights - BlackRock maintains an "overweight" view on U.S. equities, supported by a softening labor market that may allow the Federal Reserve to cut interest rates, which could benefit U.S. stocks and the AI sector [9] - The firm emphasizes that AI developments are crucial for corporate earnings, which are seen as a key factor supporting U.S. market valuations compared to other developed markets [10] Economic Data - Upcoming economic data releases, including October's CPI and initial jobless claims, will be delayed due to the recent government shutdown, impacting market expectations [13]

Group 1 - The core viewpoint is that Applied Materials (AMAT.US) is favored by multiple analysts due to its potential benefits from AI and data center construction [1] - Analysts predict that data centers currently consume about 4% of the total U.S. energy supply, which is expected to rise to 12% by 2028, indicating significant growth in energy demand driven by AI and data centers [1] - The investment firm Heartland Opportunistic Value Equity Strategy has established a position in Applied Materials, highlighting its status as the largest and most diversified supplier of capital equipment, services, and solutions in the semiconductor manufacturing sector [1] Group 2 - Applied Materials holds a 21% market share in wafer fabrication equipment, a result of decades of organic and inorganic growth, positioning it as a global leader in critical manufacturing processes [1] - The company is expected to benefit from increasing demand for advanced packaging and complex manufacturing processes due to rising chip architecture complexity, which will boost wafer fabrication equipment spending [1] - Based on mid-cycle earnings per share, the stock price of Applied Materials could reach the low $300s, representing significant upside potential from its current price of approximately $170 [1]

Core Insights - Applied Materials Inc. plans to cut 4% of its global workforce to address sales slowdown and market volatility [1][2] - The company expects to incur costs of approximately $160 million to $180 million related to the layoffs, primarily in severance and other one-time benefits [1] - The layoffs will affect over 1,400 employees based on the current workforce of 36,100 [2] Financial Impact - The new export control rules from the U.S. Department of Commerce are projected to reduce revenue by $110 million in Q4 FY2025 and $600 million in FY2026 [2] - The company’s Q4 revenue guidance is approximately $6.7 billion, below analyst expectations of $7.32 billion [3] - Adjusted earnings per share for Q4 are expected to be around $2.11, also below analyst estimates of $2.38 [3] Market Position and Future Outlook - Despite short-term challenges, the semiconductor industry is expected to see significant growth over the next decade [2] - The company is optimizing its organizational structure to enhance competitiveness and productivity [1][2] - Applied Materials serves major chip manufacturers like TSMC, Samsung, and Intel, making its performance a key indicator of future demand in the semiconductor market [3]

Core Viewpoint - To address sales slowdown and trade turmoil, Applied Materials plans to cut 4% of its global workforce, impacting over 1,400 employees [1] Group 1: Company Actions - The company aims to become a more efficient and productive organization through these layoffs [1] - As of July 31, Applied Materials had 36,100 employees, indicating that the layoffs will affect a significant portion of its workforce [1] - The expected cost of the layoffs is between $160 million to $180 million, primarily for severance and one-time termination benefits [1] Group 2: Financial Implications - The company plans to account for most of the layoff costs in the fourth quarter [1] - The layoff plan is set to be completed by the first quarter of fiscal year 2026 [1]

智通财经APP获悉，美国最大芯片制造设备生产商应用材料(AMAT.US)宣布计划裁减全球4%的员工， 以应对销售放缓及贸易环境动荡。根据周四提交的监管文件，截至7月底公司员工总数为36,100人，按 4%计算，此次裁员人数可能超过1400人。 该公司表示此举旨在"提升竞争力与生产力"，并预计相关费用将达1.6亿至1.8亿美元，主要涉及遣散费 及一次性解雇福利，大部分费用将在2025年第四季度计入，裁员计划将于2026财年第一季度完成。 此次调整背景中，本月早些时候应用材料公司曾披露，美国扩大对华出口限制将导致其2026财年(截至 明年10月)损失约6亿美元收入。作为华盛顿限制中国发展本土芯片供应能力举措的一部分，应用材料及 其同业正面临愈发严格的监管约束，这些限制直接影响了它们在中国的供货能力及客户支持服务。 然而，该公司预测第四财季营收约为67亿美元，不及分析师平均预期的73.2亿美元;预计调整后每股收 益约为2.11美元，不及分析师平均预期的2.38美元。 首席执行官加里·迪克森在员工备忘录中强调："尽管面临短期挑战，但半导体行业预计将在未来十年实 现显著增长。应用材料公司正通过优化组织架构，打造更具竞争 ...

Core Viewpoint - Bank of America has raised the target price for Applied Materials from $180 to $250 and upgraded its rating from "Neutral" to "Buy" [1] Group 1 - The target price increase reflects a positive outlook on Applied Materials' performance [1] - The upgrade in rating indicates a stronger confidence in the company's future growth potential [1]

来源：市场资讯 应用材料公司凭借其技术创新和市场需求的精准把握，再次证明了其在芯片制造领域的重要地位。在当 前技术变革迅速、市场竞争激烈的背景下，公司持续的技术推动和市场扩展策略或将为投资者带来更为 理想的回报。 尽管有观点担忧人工智能可能存在泡沫风险，但应用材料公司并未观察到行业投资的放缓迹象。当前， 全世界有多达100家晶圆厂正在兴建，彰显出市场对人工智能计算需求的强大信心。公司企业战略与发 展集团副总裁特里斯坦·R·霍尔特曼认为，人工智能的应用领域广阔，构建相应技术基础设施可能会长 达30年，这为相关企业带来了可观的长期发展机遇。 应用材料全新推出的芯片制造工具系列旨在提升人工智能芯片的性能。该系列产品包括业界首个集成式 芯片到晶圆混合键合系统、新型材料沉积系统以及提供亚纳米成像的计量工具。这些技术创新有望使客 户在高复杂性逻辑芯片、高带宽存储器芯片和3D芯片堆叠的研发及生产中提升质量。这一系列产品正 被全球领先的芯片制造商，如台积电、英特尔、三星和美光等广泛应用。 （来源：美股情报站） 10月13日，应用材料公司(AMAT)的股价强劲上涨了4.54%。这显然给市场带来了不少关注，也引发了 投资者对其未 ...

总的来说，全球事件和政策变动对应用材料的影响不可小觑，但在市场震荡中，投资者或许可以通过捕 捉其技术优势所带来的机会，实现更为长远的投资目标。 尤其是，美国商务部下属的工业与安全局（BIS）出台了新的出口管制措施，规定被列入出口管制实体 清单的企业，其拥有50%及以上股权的子公司也将受到相同的限制。此举显然意在阻止中国科技企业通 过子公司或国际合作绕开禁令，继续其业务活动。 这种管制措施的实施，使得美国的科技企业同样面临压力，应用材料便是其中之一。在提交给美国证券 交易委员会的8-K文件中，应用材料详细说明了新政策对公司的潜在影响。预计到2025财年第四财季， 公司收入将减少1.1亿美元，而到2026财年，损失总额可能达到6亿美元。这无疑是一个沉重的打击。 应用材料表示，新规限制了其向某些未获得许可证的地区出口产品的能力，进而影响了其向特定中国客 户提供零部件和服务的业务。这一限制不仅影响了应用材料自身，也可能对其他半导体设备制造商如 ASML、泛林集团、科磊等造成不同程度的影响。 从投资的角度来看，尽管应用材料面临政策阻力和收入下滑的挑战，但其在技术创新方面的持续投入， 以及在全球半导体设备市场上的领先地位 ...