Chip Equipment Maker Applied Materials Under U.S. Criminal Investigation For Potentially Evading Export Curbs On China's SMIC
Portfolio Pulse from Benzinga Newsdesk
Applied Materials, a chip equipment maker, is under a U.S. criminal investigation for potentially evading export restrictions to China's SMIC. The investigation could have significant implications for the company's operations and its ability to do business with one of its customers.
November 16, 2023 | 9:01 pm
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Applied Materials is under investigation for potentially evading U.S. export controls to SMIC, which could lead to legal consequences and affect its business with the Chinese firm.
The criminal investigation into Applied Materials suggests potential legal issues that could result in fines or restrictions on business with SMIC, a significant customer. This uncertainty is likely to negatively affect investor sentiment and the stock price in the short term.
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