Why Applied Materials Stock Sank in October
Applied Materials(AMAT) The Motley Fool·2024-11-05 09:33
The company got hit due to a bookings slowdown at another company in its sector.Shares of Applied Materials (AMAT -0.85%) fell 10.1% in October, according to data from S&P Global Market Intelligence. The equipment maker for the semiconductor industry sank after its industry peer ASML Holding (ASML -0.53%) reported weak bookings last quarter. Applied Materials is also being investigated for unsanctioned sales to China. Applied Materials stock is up 30% in the last year after the company saw booming demand du ...