Why Applied Materials Stock Tanked 16% in April
Shares of semiconductor fabrication equipment company Applied Materials (NASDAQ: AMAT) fell by 16% in April, according to data provided by S&P Global Market Intelligence. For comparison, the S&P 500 was down 8.8% during the month.
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Supply chain issues, the war in Ukraine, the Federal Reserve hiking interest rates, and a possible slowdown in the chip industry as early as 2023 have conspired to drag Applied Materials and its peers down in recent months. Shares of the chip equipment manufacturer have declined 31% since reaching all-time highs early in 2022.
Source Fool.com