Applied Materials (AMAT) Stock: $252M Settlement Ends China Export Probe

TLDR Applied Materials faces $252 million settlement for illegally exporting semiconductor equipment to Chinese chipmaker SMIC. The company made 56 unauthorized shipments worth $126 million by routing equipment through South Korea from 2020-2023. SMIC was placed on U.S. Entity List in December 2020 due to military connections, requiring special export approvals. The penalty represents the [...]

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