On July 29, Applied Materials declined 4.3% in regular trading, trading at approximately $454.48 per share, with turnover of $547 million.

On the news front, renowned investor Michael Burry, known as the Big Short, previously disclosed short positions targeting Applied Materials and the broader AI and semiconductor sector, projecting an approximate 30% correction across related chip stocks. This bearish stance has continued to weigh on market sentiment. Additionally, growing skepticism over whether massive AI infrastructure capital expenditures can generate adequate returns has intensified selling pressure, compounded by concerns over Chinese lithography equipment competition.

The Philadelphia Semiconductor Index has now fallen over 20% from its June all-time high, with the semiconductor equipment sector broadly weakening. Notably, HSBC, Citi, and UBS had recently raised their target prices for Applied Materials to the $683-$705 range, with the analyst consensus target at $641.61, yet short-term bearish momentum continues to dominate price action. The company is scheduled to report fiscal third-quarter results on August 13, with consensus EPS expectations of $3.36.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)