(Reuters) -Semiconductor manufacturing equipment maker Applied Materials Inc said on Wednesday new export curbs related to China’s chip industry may result in a revenue hit of over $1 billion in the fourth and first quarters.
Under the new regulations, U.S. companies must cease supplying Chinese chipmakers with equipment that can produce relatively advanced chips unless they first obtain a license.
Applied Materials now expects fourth-quarter net sales to be about $6.4 billion, plus or minus $250 million, compared with prior outlook of $6.65 billion, plus or minus $400 million.
The company also expects the new regulations to impact net sales in the first quarter of fiscal 2023 similar to the current quarter.
(Reporting by Arunima Kumar in Bengaluru; Editing by Krishna Chandra Eluri)
