Applied Materials, Inc. AMAT shares are trading lower by 3.6% to $156.20 during Tuesday's session. Shares of semiconductor and chip stocks are trading lower as Treasury yields rise, which has weighed on tech stocks.
The industry could be experiencing a decline due to ASML's drop prompted by the Netherlands' block on lithography system exports to China. Additionally, the sector might be retracting after seeing growth throughout 2023.
What Happened With ASML?
ASML Holding dropped Tuesday due to the Netherlands limiting the export of crucial lithography systems to China, impacting the NXT:2050i and NXT:2100i systems essential for advanced microprocessor production.
This restriction aligns with US export measures and follows a Dutch rule from September, requiring semiconductor firms to gain government approval for exporting specific chip-making equipment...Read More
See Also: Tesla Analysts Call Deliveries Beat A 'Major Achievement'
According to data from Benzinga Pro, AMAT has a 52-week high of $165.01 and a 52-week low of $96.12.
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