Is Applied Materials Stock a Buy Now?
Applied Materials (NASDAQ: AMAT) revised its fiscal fourth-quarter outlook on Oct. 12 in response to the Biden Administration's new restrictions on the export of semiconductors and semiconductor equipment to China. It expects those restrictions to reduce its fourth-quarter sales by $250 million to $550 million.
As a result, the semiconductor equipment maker now sees revenue rising 0.5% to 9% year over year in the fourth quarter, compared to its prior forecast for 2% to 15% growth and analysts' expectations for 8% growth. On the bottom line, management is guiding for adjusted earnings per share (EPS) to dip 8% to 21%, compared to its prior expectations for a 6% decline to 12% growth. The analyst consensus called for earnings to rise 3%.
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Source Fool.com
