Applied Materials is trading 4% down at $513.35 after a sell-the-news reaction to its August 13 earnings release, despite record revenue and above-consensus fourth-quarter guidance.
- Reuters reported that concerns about intensifying competition and expectations for faster growth outweighed the upbeat outlook.
- Analysts also cited elevated expectations following the company’s strong run.
- The company-specific decline began after earnings, while semiconductor stocks broadly gained during August 14 trading.