These 10 Firms Were Heavily Hit on Friday

6. Applied Materials Inc. (NASDAQ:AMAT)

Applied Materials dropped its share prices by 8.18 percent on Friday, to close at $169.20 each as investors sold off positions following weak earnings and full-year outlook.

In a statement, AMAT said its net income for the first quarter of fiscal year 2025 fell by 41 percent to $1.185 billion from $2.019 billion in the same period a year earlier, even as revenues grew 7 percent to $7.166 billion from $6.707 billion year-on-year.

For the next quarter, AMAT expects revenues to settle at $7.1 billion. While that would be up on a year-on-year basis, investors took path from the company’s potential risks from exports, with the new tariff imposition expected to hurt the company’s revenues by $400 million for the full fiscal year 2025, half of which will be booked in the second quarter of the year.

“For the second fiscal quarter, we are encouraged by the trends supporting continued customer investments to enable leading-edge technology inflections, while also taking into account export control-related headwinds,” said AMAT Chief Finance Officer Brice Hill.