🔴 Applied Materials is trading 6.3% down today amid a sharp pullback in semiconductor and AI-chip names

Applied Materials is trading 6.3% down today at $525.69 as part of a broad selloff across the semiconductor and AI-chip equipment sectors.

• The decline follows a period of record gains, with investors locking in profits amid concerns over stretched valuations in AI infrastructure plays.
• Markets are reassessing whether current AI data-center spending levels justify previous valuation multiples for equipment manufacturers.
• There are no company-specific negative catalysts; the move reflects wider industry pressure on chip-equipment stocks.