Applied Materials (AMAT) stock drops 6% after hours as oil shock jolts chip-equipment names
Applied Materials shares fell 5.6% to $351.32 in after-hours trading Tuesday, tracking a broad selloff in tech as oil prices surged and Middle East conflict escalated. U.S. crude settled up 4.7% at $74.56 a barrel, its highest since June. Chip equipment makers ASML and KLA also dropped over 6%. Traders now await U.S. jobs data due March 6.