Semiconductor Equipment Stocks Slide as Investors Take Profits on a Huge Year: Applied Materials Sinks 7%, Lam Research and KLA Drop 4%

Applied Materials fell 7% to $461.91 in afternoon trading, still up 80% year to date, while Lam Research and KLA each dropped 4%, far more than the 1% decline of the iShares Semiconductor ETF. The company recently opened its EPIC Center in Sunnyvale, which it expects to scale capital spending to about $5 billion as customer projects begin, with a leading chipmaker as a founding partner. Applied Materials reported adjusted EPS of $3.50 for Q3 FY2026 against a $3.39 estimate and guided Q4 FY2026 revenue to about $10.25 billion. The article suggests the gap between equipment makers and the broader chip group may reflect worries about fabrication spending, since equipment orders are discretionary and China's share of Applied Materials' revenue fell to 28% from 35%.

Summary written by Upside AI from the original article. Read the source for full details.

Read the original on Yahoo Finance ↗

All news →