(Reuters) -Shares of Applied Materials tumbled nearly 14% in premarket trading on Friday after the chip equipment maker issued weak fourth-quarter forecasts on sluggish China demand, fueling concerns over tariff-related risks.

The Santa-Clara, California-based company’s forecast comes after similar tariff warnings from ASML Holding, the world’s biggest supplier of chip-making equipment, last month.

CEO Gary Dickerson flagged lower visibility and increased uncertainty in the near-term, citing “wide-ranging implications for the semiconductor industry” from the dynamic policy environment, during a post-earnings investor call.

China, Applied Materials’ top revenue source in the July quarter, accounting for 35% of sales, has emerged as a growing risk as U.S. export restrictions weigh on new

See Full Page