Applied Materials (AMAT): Shares slide after investor day skips a chip equipment spending forecast
Image: AI-generated image (ElevenLabs)
Applied Materials fell roughly 7-8% on Tuesday after its investor day stopped short of a wafer fab equipment spending forecast. Lam Research and KLA each dropped about 4%. CEO Gary Dickerson still expects computing demand to keep growing quickly.
Why it matters Equipment makers have run hard on AI chip demand. With no industry spending number from management, investors took profits, and the group fell far more than the wider chip index.
What we verified Investing.com reports AMAT down about 7.5% at $461.50 (low $452.81) as management gave no WFE forecast, citing factory space, supply chains and energy financing. 24/7 Wall St also has AMAT down 7%, Lam and KLA down 4%, with profit-taking as the stated reason.
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