Applied Materials, Inc. is trading 8.9% down at $96.60 following a sharp reversal in AI and semiconductor names alongside a broader risk-off move in growth stocks.
- The stock is extending weakness triggered by Broadcom’s post-earnings slump, which has weighed heavily on the broader chip sector.
- A stronger-than-expected U.S. jobs report has fueled fears of higher-for-longer interest rates, putting additional pressure on high-growth tech and AI-related shares.