U.S. Intensifies Probe Into Applied Materials Over China Shipments
The semiconductor equipment maker faces multiple subpoenas for potentially violating export restrictions to China's SMIC.
Overview
- Applied Materials has received several subpoenas from the U.S. Commerce Department and other agencies since 2022.
- The company is under investigation for allegedly shipping equipment to China's SMIC via South Korea without proper licenses.
- Applied Materials reported that 43% of its revenue in the second quarter came from China.
- The ongoing probe includes inquiries from the U.S. Justice Department and SEC.
- Applied Materials is cooperating with the investigations but cannot predict the outcomes.