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.