The company is seeing less demand from customers in China, CEO Gary Dickerson said in an interview. It also faces delays in approval for exporting technology to that country, he said. Moreover, large customers are putting off some purchases in the face of prolonged negotiations around tariffs and other economic issues.
Applied Materials, the largest American producer of chipmaking gear, plunged in late trading after giving a disappointing sales and profit forecast, renewing concerns that the US trade dispute with China is weighing on demand.
Revenue will be approximately US$6.7 billion in the fiscal fourth quarter, the company said in a statement Thursday. Analysts had estimated US$7.32 billion on average. Profit will be about US$2.11 a share, excluding some items, compared with a projection of US$2.38.
