Applied Materials stock slides nearly 6% as chip-tool selloff deepens; what AMAT traders watch next
Applied Materials dropped 5.6% to $322.32 Friday, leading declines in chip equipment stocks after KLA plunged over 15%. The Philadelphia Semiconductor Index fell 3.87% as investors reacted to Kevin Warsh’s Fed nomination and higher inflation data. Applied’s next earnings report is due February 12. The company warned U.S. export controls could impact China-related sales in 2026.