On July 28, Applied Materials fell 3.24% in after-hours trading, trading at $460.04/share, with turnover of $141 million, extending its multi-day selloff amid persistent bearish pressure on the semiconductor equipment sector.

On the news front, famed investor Michael Burry, known as the \"Big Short,\" has publicly disclosed short positions targeting Applied Materials and the broader AI and semiconductor sector, predicting an approximately 30% correction in related chip stocks. The disclosure has continued to ferment, compounding market concerns over whether massive AI infrastructure spending will generate adequate returns. Additionally, worries about rising competition from Chinese lithography equipment have added further selling pressure. The Philadelphia Semiconductor Index has now declined over 20% from its June all-time high, crossing the technical bear market threshold.

Notably, multiple institutions had recently raised their price targets on Applied Materials — HSBC to $683, Citi and UBS to $705 — with the analyst consensus target at $641.61, yet short-term bearish sentiment has dominated price action. The company is scheduled to report fiscal third-quarter results on August 13, with consensus EPS expected at $3.36.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)