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Could Applied Materials Stock Continue to Decline?

Sean Allen
Could Applied Materials Stock Continue to Decline?

Chip equipment company Applied Materials (AMAT) has seen its stock decline by roughly 13% since August 8. Chip equipment companies like Applied Materials are highly reliant on chip company spending. Over the past three years, Applied Materials stock has surged threefold thanks to the upswing in spending by chip companies on the back of soaring demand for chips, particularly memory chips.