Applied Materials: Failed China Chip Sanctions And What It Means To Non-Chinese Semiconductor Equipment Companies [Applied Materials, Inc. (AMAT)] Summary – Chinese DRAM manufacturer Fujian Jinhua, sanctioned by the U.S in 2018, is continuing to make chips using domestic suppliers. – China's SMIC has moved to the top tier of manufacturing after reaching 7nm node. – Chinese domestic equipment companies represented 10% of total equipment purchases in China in Q1 2022. – Applied Materials will be the biggest loser as China moves to self sufficiency in semiconductor equipment to make internal chips. – This idea was discussed in more depth…