Tech Down on Applied Materials Outlook -- Tech Roundup

Dow Jones
Aug 16

Shares of technology companies declined as a tepid outlook from one major chip-equipment manufacturer cast a pall on the semiconductor sub-sector.

Shares of Applied Materials plunged after the maker of semiconductor manufacturing equipment forecast growth short of Wall Street expectations.

Intel rallied after reports that the Trump administration may acquire a stake in the chip maker for the U.S. government, following a meeting between President Trump and Intel Chief Executive Lip-Bu Tan.

Investment firms Soros Fund Management and Appaloosa Management increased Nvidia holdings during the second quarter, betting the artificial-intelligence boom would continue.

 

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

August 15, 2025 17:17 ET (21:17 GMT)

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