Applied Materials’ shares sink on weak China demand, tariff uncertainty

Applied Materials shares slid about 15% in premarket trading on Friday after the company issued disappointing sales and profit forecast, stoking investor concerns that the U.S.-China trade dispute was eroding demand.

The chip-equipment maker joined Dutch rival ASML Holding in flagging continued uncertainty over the impact of U.S. tariffs, as two of the industry’s biggest players grapple with weakening demand.