0941 ET - Applied Materials sinks 6% in early trading. Raymond James says the semiconductor-equipment maker's F2Q revenue and F3Q outlook were largely in-line with consensus while EPS is trending better on margin strength. "Lack of revenue upside is somewhat surprising given the recent results from peers," analyst Srini Pajjuri adds, which he attributes to the company's Internet of Things, Communications, Automotive, Power and Sensors [ICAPS] exposure. But Pajjuri says demand remains healthy in other markets as generative AI continues to drive spending. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
May 16, 2025 09:42 ET (13:42 GMT)
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