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Applied Materials (AMAT) stock hit a nearly two-year low Friday after the No. 1 chip gear maker late Thursday reported Q3 revenue that missed Wall Street’s forecast and offered lackluster Q4 guidance. CEO Gary Dickerson blamed unexpectedly floundering foundry sales for the Q3 revenue miss and lowered Q4 guidance. Thrifty customers have become adept at reusing their tools rather than ordering more, he said during the Q3 earnings conference call. Scalper1 News
Scalper1 News