Applied Materials posted record fiscal third-quarter results, with revenue rising 8% year over year to $7.30 billion and adjusted earnings per share climbing to $2.48, both topping Wall Street expectations. Gross margin held near 49% and sales in the core Semiconductor Systems division grew 10% to $5.43 billion. China remained the largest market, contributing 35% of the quarter’s revenue. Despite the beat, the chip-equipment maker projected fourth-quarter revenue of $6.7 billion, plus or minus $500 million, and adjusted EPS of about $2.11, well below analysts’ forecasts. Management cited a pause in Chinese orders amid export-license uncertainty, digestion of recently installed capacity and uneven demand from leading-edge customers. The guidance assumes no approvals of pending U.S. export-license applications. The downbeat outlook overshadowed the strong quarter, sending Applied Materials shares down roughly 13% in late trading and prompting several analysts to cut ratings or price targets. The company’s warning follows similar caution from industry peers and underscores how U.S.–China trade tensions and export controls are clouding visibility for semiconductor-equipment suppliers.