Applied Materials slips as investors seek faster growth after stellar run

Applied Materials shares dropped about 5% in premarket after an upbeat outlook failed to calm investors amid intensifying competition in chip equipment. The guidance was viewed as insufficient versus the market’s concerns about competitive pressure, keeping the stock under near-term selling pressure.

Analysis

Applied Materials shares dropped about 5% in premarket after an upbeat outlook failed to calm investors amid intensifying competition in chip equipment. The guidance was viewed as insufficient versus the market’s concerns about competitive pressure, keeping the stock under near-term selling pressure.