Applied Materials’ shares drop as stringent US export curbs weigh on China business
By Siddarth S and Kanchana Chakravarty (Reuters) -Applied Materials (AMAT) shares slid 6% before the bell on Friday as the chip equipment maker forecast reduced spending in China next year due to stringent U.S. export curbs. The U.S. government has cracked down on foreign companies, especially from China, that use subsidiaries and affiliates to circumvent…