Applied Materials Inc. (AMAT) experienced a significant 24-hour plunge of 5.03% during the night session, reflecting heavy selling pressure on the semiconductor equipment stock.
The decline coincides with recent insider selling activity. Prabu G. Raja, President of the Semiconductor Products Group at Applied Materials, reported the disposal of 10,000 common shares on June 18, 2026, in a transaction valued at approximately $6.34 million. Such significant sales by top executives can often signal a lack of confidence in the near-term prospects to investors.
Furthermore, the stock's drop occurred amid a broad sell-off in the semiconductor and data storage sector. Industry peers, including Wolfspeed, Marvell Technology, Western Digital, SanDisk, and Micron Technology, all posted declines exceeding 5%, indicating widespread negative sentiment affecting the entire chip industry chain.
