Business & Finance
17 November 2023, 11:15 am 1 minute
Reuters was first to report that semiconductor equipment maker Applied Materials is under U.S. criminal investigation for potentially evading export restrictions on China’s top chipmaker SMIC. The largest U.S. semiconductor equipment maker is being probed by the Justice Department for sending equipment to SMIC via South Korea without export licenses. The news, which Bloomberg in its pick-up of the story credited for a 7% drop in Applied shares, was the topic of the first question on the company’s earnings call held with analysts the same afternoon.
Shares in Applied Materials fell 7.3% after the news and the company reported quarterly results.
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & FinanceIndustrial Goods & Manufacturing
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story