© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect Applied Materials Lowers Q4 Outlook Due to New Export Regulations
By Davit Kirakosyan
Applied Materials, Inc. (NASDAQ:) provided an update today, lowering its Q4 revenue outlook to approximately $6.4 billion, plus or minus $250 million, down from the prior outlook of $6.65 billion, plus or minus $400 million.
The revised outlook reflects the impact of the new export regulations for U.S. semiconductor technology sold in China (announced on Oct 7) partially offset by supply chain performance improvements.
The company expects Q4 non-GAAP adjusted diluted EPS to range from $1.54 to $1.78, down from the prior range of $1.82-$2.18.
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