Applied Materials Posts Mixed Q2: Weaker Demand Expected Due To Tariff Dynamics, Analysts Cut Price Target
1. AMAT reported $7.1 billion in revenue, meeting consensus estimates. 2. Non-GAAP earnings of $2.39 per share exceeded the $2.31 consensus. 3. Analysts lowered future revenue estimates due to weak demand and trade-related challenges. 4. China revenue now comprises 25% of total revenues, down from previous highs. 5. Market response shows a 6.66% decline in AMAT shares post-earnings announcement.