AMAT Stock price up on Thursday, trading at $78.78 as of 01:08 PM EDT
Even though the industry is still dealing with the effects of the Biden Administration’s export limits , Applied Materials (AMAT Stock) ( NASDAQ:AMAT ), Lam Research ( NASDAQ:LRCX ), and KLA Corp. ( NASDAQ:KLAC ) turned around on Thursday.
Even after stating on Wednesday that the new laws will have a negative impact on its fourth-quarter revenue of between $250 million and $650 million, AMAT Stock ( NASDAQ:AMAT ) increased more than 4.5%, reversing earlier losses.
As a result, it anticipates revenues to be between $6.15 billion and $6.65 billion, which is less than its previous projection of $6.25 billion to $7.05 billion and the $6.67 billion consensus estimate. As opposed to projections of $2.01 per share, adjusted earnings per share are anticipated to range between $1.54 and $1.78.
AMAT Stock and Semiconductor Outlook
The Gary Dickerson-led Applied Materials ( NASDAQ:AMAT ) also stated that the updated profits projection took into account an impact of around 23 cents per share from inventory and manufacturing costs associated with the new export laws. Competitors KLA Corp. and Lam Research increased by 3% and 1%, respectively, while ASML Holding, a manufacturer of chip equipment, increased marginally.
Not all semiconductor companies are being equally impacted by the new export limitations. Even though Synopsys restated its fiscal fourth-quarter guidance and stated that the new export limitations would not materially affect its operations, the stock rose by almost 2.5%.
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