Published on 12 Oct 2022 on MarketWatch
Applied Materials could lose more than $1 billion in sales from China ban over six months
Applied Materials Inc. disclosed Wednesday that a widened ban on sales of certain tech to China will likely cost the chip-equipment manufacturer up to $1.1 billion in sales over six months.
Applied Materials executives expect a loss of $250 million to $550 million in sales in its fiscal fourth quarter because of Applied Materials said the ban could hurt first-quarter sales by roughly the same amount.