Applied Materials' Record Profit Can't Offset a Revenue Miss as China Curbs Bite the AI Chip Supercycle
Applied Materials posted record profit and 24.8% revenue growth in fiscal Q3, but a narrow miss against sky-high expectations sent shares down almost 4% even as it guided Q4 revenue to $10.25B. The print tests how much AI capex optimism, and China export-control risk, is priced into chip equipment s