Applied Materials forecasts upbeat first-quarter revenue on resilient demand

A smartphone with a displayed Applied Materials logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing Rights Nov 16 (Reuters) – Applied Materials (AMAT.O) forecast first-quarter revenue above analysts’ estimates on Thursday, but the company’s shares fell more than 7% after the bell following a report that the semiconductor equipment maker was under investigation. Reuters reported Applied Materials is under U.S. criminal investigation for potentially evading export restrictions on China’s top chipmaker SMIC. The United States has restricted shipments of advanced chips and chipmaking equipment to China for national security,…