Applied Materials Hit Hard Financially as Intel's Largest Supplier

ALLENTOWN, Pa. - Sept. 5, 2024 - PRLog -- "Intel faces severe financial losses, with $6.8 billion lost in 2023 and continued challenges in 2024, leading to reduced capital expenditures, as Intel's largest supplier, Applied Materials has seen a sharp revenue decline, losing $1.2 billion in 2023 and $600 million in early 2024 due to Intel's cutbacks, according to the article entitled "Applied Materials Hit Hard Financially as Intel's Largest Supplier, recently published on Substack.

"In 2023, Intel reported a substantial net loss of $6.8 billion and another $3.4 billion in 1H 2024," noted Dr. Robert Castellano, President of The Information Network and author of the article. Intel's capital expenditures on semiconductor equipment from Applied Materials fell by approximately 15% in 2023, translating to a revenue loss of about $1.2 billion for the company."

"Applied Materials' revenue loss from Intel's reduced orders in 2023 amounted to about $1.2 billion, and the continued financial struggles of Intel into 2024 have led to a further revenue decline of approximately $600 million in the first half of the year, added Dr. Castellano

https://drrobertcastellano.substack.com/p/applied-materia...