Applied Materials shares are trading lower after the company reported Q4 earnings. The stock is also under pressure following a report suggesting the company is facing a US criminal investigation for possibly evading export restrictions on China's SMIC.
Portfolio Pulse from Benzinga Newsdesk
Applied Materials (AMAT) stock is trading lower following the release of their Q4 earnings. Additionally, the company is reportedly under a US criminal investigation for potentially circumventing export restrictions to China's SMIC, adding further pressure to the stock.
November 17, 2023 | 1:19 pm
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NEGATIVE IMPACT
Applied Materials' stock is experiencing a decline due to their recent Q4 earnings report and news of a potential US criminal investigation regarding export restrictions to SMIC.
The decline in Applied Materials' stock is likely due to the double impact of a potentially disappointing Q4 earnings report and the negative sentiment surrounding the criminal investigation news. The investigation could lead to fines, restrictions, or damage to the company's reputation, which may concern investors and affect the stock's short-term performance negatively.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100