Applied Materials (NASDAQ: AMAT) shares plunged on Friday, trading at $164.31 as of market open, a 12.71% drop from Thursday’s close of $188.24. AMAT 1-day stock price chart. Source: Google Finance Why AMAT stock is downThe company beat expectations in its fiscal third quarter, reporting revenue at $7.30 billion, up 8% year-over-year, and adjusted earnings at $2.48 per share, both above consensus. Gross margin reached 48.8%, with all three business segments topping forecasts.Still, the stock sank as managem ...

The semiconductor market is like the weather: you can enjoy the heat and the sunshine, but sooner or later, you’ll need an umbrella. And if you’ve been following this sector for some time, you know that the “weather” here changes inI’m passionate about finance and investing, focusing on business analysis, fundamental analysis, valuation, and long-term growth, especially in sectors like AI, fintech, finance and tech. I study finance and economy and have hands-on experience in equity research, financial model ...

| ■ US 30 | 45,174.00 | 45,282.00 | 45,041.50 | +262.70 | +0.59% | | --- | --- | --- | --- | --- | --- | | ■ US 500 | 6,476.60 | 6,487.40 | 6,465.40 | +8.10 | +0.12% | | ■ US Tech 100 | 23,820.10 | 23,870.40 | 23,780.80 | -12.30 | -0.05% | 2. 截至发稿，德国DAX指数涨0.09%，英国富时100指数跌0.11%，法国CAC40指数涨0.58%，欧洲斯托克50指数涨0.27%。 | 德國DAX30 | 24,387.62 | 24,535.92 | 24,385.69 | +20.80 | +0.09% | | --- | --- | --- | --- | --- | --- | | 淵 英國富時100 | 9,167.07 | 9,225.15 | 9,162.85 | -10.17 | -0.11% | | II 法國CAC40 | 7,916.34 | 7,945. ...

Core Viewpoint - Beijing Yitang Semiconductor Technology Co., Ltd. has filed a lawsuit against Applied Materials Inc. for alleged trade secret infringement related to plasma source and wafer surface treatment technologies [1] Group 1: Legal Action - Yitang claims that Applied Materials illegally obtained and used its core technology secrets, violating the Anti-Unfair Competition Law of the People's Republic of China [1] - The lawsuit has been filed in the Beijing Intellectual Property Court, with a claim amount of 99.99 million RMB [1] - The case has been officially registered as of the announcement date [1] Group 2: Employee Recruitment - Applied Materials is accused of hiring two employees from Yitang's wholly-owned subsidiary, Mattson Technology, Inc., who possess knowledge of the core technology related to plasma generation and processing methods [1] - Evidence suggests that after their recruitment, these employees contributed to a patent application submitted to the Chinese National Intellectual Property Administration, with them listed as the main inventors [1]

Investment Rating - The report assigns an "Outperform" rating for the company, indicating an expected total return over the next 12-18 months that exceeds the relevant market benchmark by more than 10% [19]. Core Insights - In Q3 FY2025, Applied Materials reported total revenue of $7.3 billion, an 8% year-over-year increase, surpassing market expectations [8][9]. - The semiconductor systems segment generated $5.43 billion in revenue, up 10% year-over-year, driven by investments in expanding Gate-All-Around (GAA) node capacity [9][10]. - The company anticipates a decline in revenue for Q4 FY2025 due to uncertainties in the Chinese market, projecting total revenue guidance of $6.7 billion ± $500 million [8][11]. - AI-driven technology innovations are reshaping semiconductor roadmaps, with a focus on advanced packaging and materials science, which is expected to double the packaging business revenue to over $3 billion annually in the coming years [10][12]. Summary by Sections Financial Performance - Total revenue for Q3 FY2025 reached $7.3 billion, exceeding the consensus estimate of $7.21 billion, with a GAAP gross margin of 48.9% [8][9]. - Non-GAAP earnings per share increased by 17% year-over-year to $2.48, surpassing the consensus of $2.36 [8][9]. Business Segments - The semiconductor systems business saw a revenue increase of 10% year-over-year, primarily due to investments in GAA technology, while DRAM business outperformed expectations with significant growth in AI-related investments [9][10]. - Global Applied Services (AGS) revenue was $1.6 billion, a 1% increase year-over-year, with core services growing approximately 10% [9][10]. Market Trends - The transition from FinFET to GAA technology is expected to increase revenue opportunities by 30% for equivalent fab capacity, with market share gains anticipated as new technologies are adopted [12]. - The company is increasing investments in the U.S., planning over $200 million for a new advanced component manufacturing facility in Arizona [11][12]. Future Outlook - The Chinese market is expected to continue its decline, with revenue projected to drop 15-20% in the coming quarters compared to 2024 [11][12]. - The company aims to enhance its market position in DRAM and advanced packaging, targeting significant revenue growth driven by AI demand [10][12].

花旗集团将应用材料(AMAT.US)目标价从220美元下调至205美元。 ...

Core Viewpoint - The company anticipates a decline in profits and revenues due to challenges in the Chinese market and fluctuations in customer demand, following two years of rapid expansion [2][3]. Group 1: Financial Performance - The company reported a profit of $1.78 billion, or $2.22 per share, for the third quarter, compared to $1.71 billion, or $2.05 per share, in the same period last year [4]. - Adjusted earnings per share for the third quarter were $2.48, exceeding analyst expectations of $2.36 [4]. - Revenue for the third quarter grew by 8% to $7.3 billion, surpassing the anticipated $7.22 billion [4]. Group 2: Market Outlook - The company expects fourth-quarter revenue to decline, influenced by the digestion of production capacity in China and non-linear growth in demand from key customers [3][4]. - The anticipated adjusted earnings per share for the fourth quarter is $2.11, with a fluctuation range of $0.20, compared to $2.32 in the same quarter last year [3]. - Revenue for the fourth quarter is projected to be $6.7 billion, with a fluctuation range of $0.5 billion, down from $7.05 billion in the previous year [3]. Group 3: Customer Demand and Economic Environment - The company has observed uneven demand from its advanced customers, with some delaying investments due to economic uncertainties [2]. - The CEO noted that the current macroeconomic and policy environment is increasing uncertainty and reducing visibility, particularly affecting the company's business in China [3]. - The company is facing challenges due to a concentration of demand from a few large customers, complicating capacity planning [2]. Group 4: Strategic Initiatives - The company plans to invest over $200 million to establish a new manufacturing facility in Arizona [4]. - The company is seeking to leverage its domestic business amid the turbulent trade environment in the semiconductor industry [4].

格隆汇8月15日｜美国最大芯片设备生产商应用材料本财季销售和利润展望令人失望，再度引发对于贸 易争端正在抑制需求的担忧。该公司股价盘后大跌。应用材料预计截至10月底的财季营收约为67亿美 元，远低于分析师平均预估的73.2亿美元。公司预计剔除部分项目后每股收益为2.11美元，也低于分析 师预估的2.38美元。应用材料首席执行官Gary Dickerson接受采访时表示，来自某些客户的需求正在减 少，同时技术出口也面临审批延迟的问题。此外，关税谈判久拖不决以及其他经济因素促使大客户推迟 了部分采购。应用材料股价盘后一度重挫12%。应用材料上财季营收同比增长7.7%，至73亿美元，高于 分析师预估均值72.1亿美元；每股收益为2.48美元，也高于预估的2.36美元。 ...

Group 1: Market Overview - The markets were mostly flat, with the small-cap Russell 2000 declining by -1.24% after a +2% gain the previous day [1] - The S&P 500 reached a third consecutive all-time closing high, increasing by +0.03% [1] - The Dow Jones Industrial Average finished down -0.025%, recovering from a drop of -200 points earlier in the day, while the Nasdaq slipped -0.01% [1] Group 2: Interest Rate Outlook - Analysts anticipate a 25 basis-point interest rate cut at the Federal Reserve's next meeting scheduled for September 16-17 [2] - The likelihood of a September rate cut is currently at 93%, but this may change based on upcoming inflation data, including CPI, PPI, and PCE reports [3][2] Group 3: Company Performance - Applied Materials - Applied Materials reported earnings of $2.48 per share, exceeding the Zacks consensus estimate of $2.34, with revenues of $7.3 billion compared to the expected $7.2 billion [4] - Despite outperforming on earnings, the company provided a weak outlook for the current quarter, leading to a -12% decline in shares during after-hours trading [4] - The revised guidance indicates a top-line expectation of $6.7 billion, down from a previous estimate of $7.3 billion, and an earnings guidance midpoint of $2.11 per share, reduced from $2.38 per share [5] Group 4: Upcoming Economic Reports - A range of economic reports is expected tomorrow, including Retail Sales, Imports and Exports, and Industrial Production/Capacity Utilization for July, as well as the August Empire State manufacturing index [6] - Following the market opening, Business Inventories for June and Consumer Sentiment for August will be released [6] Group 5: Earnings Reports Next Week - The earnings reporting schedule will pick up next week with major retailers such as Walmart, Target, Home Depot, Lowe's, and The TJX Companies set to release their July quarter results [7] - Additionally, Palo Alto Networks and Estee Lauder are also expected to report earnings next week [7]

Core Viewpoint - Applied Materials (AMAT.US), the largest semiconductor manufacturing equipment producer in the U.S., provided disappointing sales and earnings forecasts, raising concerns about demand suppression due to U.S.-China trade tensions [1][3]. Financial Performance - For Q3 FY2025, Applied Materials reported a revenue of $7.302 billion, an 8% increase from $6.778 billion in Q3 FY2024, exceeding analyst expectations of $7.21 billion [2]. - The adjusted net income for the same period was $1.989 billion, a 13% increase year-over-year, with adjusted earnings per share (EPS) of $2.48, surpassing the expected $2.36 [2]. - The company forecasts Q4 FY2025 revenue to be approximately $6.7 billion, below analyst expectations of $7.32 billion, and adjusted EPS is expected to be around $2.11, also below the anticipated $2.38 [3]. Market Dynamics - Applied Materials' customer base includes major semiconductor manufacturers like TSMC, Samsung, and Intel, making its performance guidance a key indicator of future demand [3]. - The CEO, Gary Dickerson, indicated a decline in demand from Chinese customers and delays in technology export approvals to China, contributing to uncertainty in procurement plans [3][4]. - Competitor Lam Research (LRCX.US) also projected lower revenue for the upcoming quarter, citing reduced spending from Chinese clients following a previous surge in orders [3]. Long-term Outlook - Despite current challenges, the long-term demand for computing power remains strong, with Chinese customers having significantly increased their purchases in recent years, currently in a phase of inventory digestion [4]. Strategic Initiatives - Recently, Applied Materials announced plans to invest over $200 million in a factory in Arizona as part of Apple's expansion of manufacturing in the U.S., reinforcing its position as a key supplier for advanced semiconductor manufacturing [5]. - The company is optimistic about the U.S. government's focus on enhancing domestic semiconductor supply chains [5].