Applied Materials (AMAT) Shares Fall 7% by Noon ET (4 p.m. UTC) Tuesday, Oct. 13

Applied Materials shares fell 7% by noon ET (4 p.m. UTC) Tuesday, Oct. 13, as the semiconductor equipment maker held its Investor Day presentation during SEMICON West in San Francisco. The presentation focused on Applied Materials’ opportunity in the growing optical inspection market. It also made the case that artificial intelligence demand could support the company’s business. Applied Materials reported record fiscal third-quarter revenue of $9.115 billion for the period ended July 26, up 25% from $7.302 billion a year earlier. The company’s fiscal fourth-quarter revenue forecast is about $10.25 billion, with a range of plus or minus $500 million.

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