Applied Materials sees BIS Affiliates Rule affecting Q4 revenue by about $110M

According to a regulatory filing, on September 29, 2025, the U.S. Department of Commerce’s Bureau of Industry and Security issued a new rule that expands the list of companies subject to U.S. export restrictions. Applied Materials (AMAT) expects that the BIS Affiliates Rule will further restrict its ability to export certain products and provide certain parts and services to specific China-based customers without a license. Applied currently estimates that the impact of the BIS Affiliates Rule will reduce its net revenue for the fourth quarter of fiscal 2025 by approximately $110M. In addition, Applied currently expects that the impact of the BIS Affiliates Rule will reduce its net revenue for fiscal 2026 by approximately $600M.