Applied Materials Stock Tanks On Weak Outlook, China Headwinds

Applied Materials Inc. AMAT stock is plunging on Friday after the company reported financial results for the third quarter after market close on Thursday.The chip equipment manufacturer reported third-quarter revenue of $7.3 billion, beating analyst estimates of $7.22 billion, with adjusted earnings of $2.48 per share, beating analyst estimates of $2.36 per share.Outlook“We are expecting a decline in revenue in the fourth quarter driven by both digestion of capacity in China and non-linear demand from leadi ...