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.

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.