On September 14, Applied Materials fell 3.06% overnight, trading at 442.63 USD/share, with turnover of 3.6812 million USD. The semiconductor equipment sector came under broad selling pressure, with Lam Research down 3.19%, KLA Corporation down 3.08%, ASML down 2.47%, Teradyne down 3.46%, and AXT Inc down 5.34%.

The decline was driven by escalating US-China trade friction weighing on the semiconductor equipment sector as a whole. Despite the company's CEO recently projecting that 2027 would be a landmark year for Applied Materials and highlighting service business annual growth exceeding 20% with margins expanding 180 basis points, the optimistic outlook failed to offset sector-wide selling pressure. The stock had already exhibited a classic sell-the-news pattern following its fiscal Q3 results, in which revenue grew 25% year-over-year to $9.12 billion and non-GAAP EPS of $3.50 both surpassed consensus estimates. Analysts noted that market expectations for semiconductor equipment names had reached elevated levels, leaving limited room for further upside even on strong prints.

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