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Applied Materials sees $2.5bn revenue hit from China chip ban

Company hopes to ease pain by seeking licenses for certain Chinese clients

California-based Applied Materials is one of the world's biggest suppliers of chipmaking equipment.   © Reuters

PALO ALTO, U.S. -- Applied Materials saw strong sales in the August-October quarter but could take up to a $2.5 billion blow to revenue in fiscal 2023 from fresh U.S. curbs on semiconductor exports to China, the California-based chipmaking equipment manufacturer said Thursday.

Revenue rose 10% on the year to $6.8 billion for the quarter. Taiwan was the largest contributor, accounting for 31% of the total at $2.1 billion -- up 66.8% on the year.

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