Applied Materials (AMAT) stock is falling, after the semiconductor firm's upbeat fourth-quarter results were overshadowed by a gloomy outlook

Shares of Applied Materials (NASDAQ: AMAT), the nation's biggest manufacturer of semiconductor equipment, dropped today after it offered disappointing guidance in its fourth-quarter earnings report due to weakness in China.

Applied Materials, the biggest U.S. chip-equipment maker, is a key player in the AI and broader semiconductor space.

Detailed price information for Applied Materials (AMAT-Q) from The Globe and Mail including charting and trades.

Applied Materials reported quarterly earnings of $2.32 per share, which beat the analyst consensus estimate of $2.19. Quarterly revenue clocked in at $7.05 billion, which beat the analyst consensus estimate of $6.95 billion and is an increase over sales of $6.72 billion from the same period last year.

Applied Materials gave a slightly disappointing outlook, driving its shares lower in after-hours trading Thursday. The chip equipment maker reported adjusted earnings of $2.32 a share for the October quarter,

Applied Materials (AMAT) reported fiscal fourth-quarter earnings that missed analysts’ expectations, sending shares lower after the bell Thursday despite a revenue beat. The semiconductor equipment maker saw revenue grow 5% year-over-year to $7.