Applied Materials, Inc. (NASDAQ:AMAT) shares are trading lower by 4.68% to $135.14 during Thursday’s session. Shares of several semiconductor companies are trading lower in sympathy with Taiwan Semiconductor, which issued weak third-quarter and 2023 guidance.
Applied Materials is a supplier of semiconductor manufacturing equipment and relies on semiconductor companies like TSM for business. If TSM’s earnings disappoint, it may indicate weaker demand for semiconductor manufacturing services.
This could lead to reduced capital expenditures and investments in new equipment, potentially impacting Applied Materials’ revenue and profitability.
According to data from Benzinga Pro, AMAT has a 52-week high of $146.69 and a 52-week low of $71.12.
