At the Wells Fargo TMT Summit, KLA Corp. (KLAC) said that with all of the moving parts in the December quarter, the company is “still comfortable” with the guidance it previously provided. As it relates to China, the new export controls creates noise in the market, and will probably have an incremental impact of “somewhere in the neighborhood of about $500M plus or minus $100M,” the company said. KLA said that would imply its overall China business is down “somewhere in the low 20 percentile or so.”
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KLAC:
- KLA Maintains Guidance Amid New U.S. Export Rules
- U.S. Enacts Toughest Chip Export Controls to Curb China’s AI Ambitions
- Early notable gainers among liquid option names on November 29th
- Chip Stocks Gain as U.S. Could Soften Stance on China Sanctions
- KLA EVP Oreste Donzella Transitions to Advisory Role