Applied Materials Shares Up 4% Despite Negative Q4 Revenue Outlook Announcement 
<p><a href='https://financialmodelingprep.com/financial-summary/AMAT'>Applied Materials, Inc. (NASDAQ:AMAT)</a> shares closed more than 4% higher today despite the company’s lowered Q4 revenue outlook announcement, which reflects the impact of the new US export control regulations.</p>
<p>Q4 revenue is expected to be approximately $6.4 billion, plus or minus $250 million, compared to the previous outlook of $6.65 billion, plus or minus $400 million. Q4 non-GAAP adjusted diluted EPS is expected to be in the range of $1.54-$1.78, compared to the previous range of $1.82-$2.18.</p>
<p>Furthermore, the company announced it expects a similar revenue impact of $400 million in Q1 from the change in regulations. According to the analysts at Deutsche Bank, the impact in Q1 is less than the Q4 run-rate, as they believe the company should have enough time to adjust, i.e., shifting orders to other non-Chinese customers. The analysts lowered their price target on the company’s shares to $95 from $115, while reiterating their buy rating.</p>

NASDAQ:AMAT