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Applied Materials (NASDAQ:AMAT) shares tumbled more than 7% in premarket trading on Friday as the report of a pending criminal investigation overshadowed the company's fourth-quarter results and guidance, prompting Wall Street firms to weigh in.
Bank of America analysts, led by Vivek Arya, said the firm reiterated its buy rating on Applied Materials (AMAT) shares, but the investigation is likely to put an "overhang" and cause "near-term uncertainty."
Applied Materials tumbles as criminal investigation overshadows earnings, guidance comes via ChinaTechNews.com.