AMAT

어플라이드 머티리얼즈
APPLIED MATERIALS INC /DE · CIK 6951
AMAT 리스크 변화 알림 받기
이번 보고서
2026.04 분기보고서
10-Q · 기간 말 2026. 4. 26. · 제출 2026. 5. 21.
비교 기준
2026.01 분기보고서
10-Q · 기간 말 2026. 1. 25.
SEC 원문 ↗
0
새 리스크 항목
1
신규 문단
40
수정 문단
10
삭제
-3%
분량 변화
AI 한국어 요약

한 줄 요약

중동 분쟁이 새 리스크로 명시됐고, AI 수요에 대해서는 '예측이 어렵다'는 기존 설명에 더해 수요를 따라가지 못할 위험과 실현되지 않을 수요에 미리 투자할 위험을 함께 강조하기 시작했습니다.

주목할 변화

  • 신규중동 분쟁 리스크 명시글로벌 사업 리스크 항목에 중동 분쟁이 새로 들어갔습니다. 회사는 이 분쟁이 인플레이션·경기침체, 반도체 제조용 소재 조달 차질, 공급망·물류 차질로 이어질 수 있다고 적었습니다. 원문: "Ongoing conflict in the Middle East can exacerbate the foregoing factors and lead to regional instability".
  • 강화AI 수요 대응 실패 시 고객 이탈예전에는 AI 수요의 '예측 어려움'만 다뤘습니다. 이번에는 빠르게 변하는 수요에 대응해야 하고, 수요를 맞추지 못하면 사업 기회와 고객 신뢰를 잃을 수 있다는 내용이 추가됐습니다. 원문: "If we are unable to meet the level of demand from our customers it may result in a loss of business or customer trust".
  • 강화실현되지 않을 수요에 대한 선제 비용기대한 수요가 나타나지 않거나 지속되지 않아도 미리 비용을 쓸 수 있다는 문장이 추가됐습니다. 공급망 항목에도 생산능력이 덜 쓰이면 고정비가 발생해 매출총이익률이 떨어질 수 있다는 내용이 새로 들어갔습니다. 원문: "costs in anticipation of demand that may not be realized or sustained", "fixed costs from underutilized production capacity".
  • 강화AI 데이터센터 투자 변동성 명시반도체 수요에 영향을 주는 요인으로 데이터센터 구축을 꼽던 문장에 'AI 수요가 이끄는 데이터센터 구축'이 명시적으로 추가됐습니다. 원문: "including data center buildout driven by demand for AI technologies".
  • 강화AI 기반 사이버 공격 및 OT 시스템기존에는 딥페이크·피싱 정도만 언급했습니다. 이번에는 대규모 언어모델(LLM) 등 AI가 알려지지 않은 취약점을 자동으로 찾아내 악용하는 공격 가능성까지 추가됐습니다. 보호 대상도 IT 시스템에서 운영기술(OT, 설비·공정을 제어하는 시스템)까지 넓어졌습니다. 원문: "automated detection and exploitation of previously unknown vulnerabilities".
  • 완화미 상무부(BIS) 제재 합의금 지급 완료중국 고객 대상 출하와 관련한 수출통제 조사 합의금 2억 5,300만 달러를 2026 회계연도 2분기에 전액 냈다고 밝혔습니다. 다만 내부 감사와 보고 의무는 계속 유지됩니다. 원문: "which we paid in full during our second quarter of fiscal 2026".

읽는 법

AI 관련 서술의 무게중심이 '수요가 불확실하다'에서 '수요를 놓치는 위험과 과잉 투자 위험을 동시에 관리해야 한다'로 옮겨갔습니다. 앞으로 실적 자료에서 생산능력 확충 속도, 재고, 매출총이익률 흐름을 함께 보면 이 리스크가 실제로 어떻게 나타나는지 확인하는 데 도움이 됩니다. 중동 분쟁은 소재 조달과 물류 측면에서 새로 언급된 만큼, 이후 보고서에서 구체적인 영향이 서술되는지 지켜볼 만합니다.

원문 비교
  1. 신규We are exposed to risks associated with expanding into new and related markets and industries.
    •differing levels of government involvement, regulatory regimes, and business, employment and safety practices in these new markets and industries;
  2. 수정The industries we serve can be volatile and difficult to predict.
    The industries in which we operate, including the global semiconductor industry, have historically been cyclical and are subject to volatility in customer demand. Demand for our products and services is impacted by technology inflections and advances in fabrication processes, new and emerging technologies and market drivers, production capacity relative to demand for semiconductor chips and electronic devices, end-user demand, the timing of customers’ investment in new or expanded fabrication plants, customers’ capacity utilization, production volumes, access to affordable capital, business and consumer buying patterns and general economic and political conditions. Changes in demand can affect the timing timing, amounts and amounts mix of customer our customers’ investments in technology and manufacturing equipment and between different products can significantly impact our operating results.
  3. 수정The industries we serve can be volatile and difficult to predict.
    The growth of technologies related to artificial intelligence (AI) is a significant demand driver for the industries we serve and can require us to respond to rapid changes in demand for our products and services. If we are unable to meet the level of demand from our customers it may result in a loss of business or customer trust. The timing and amount of investments by our customers related to AI and other advanced technologies can change significantly and the related demand for our products and services is difficult to forecast. To meet rapidly changing our customers’ demand, we must accurately forecast demand and effectively manage our resources, investments, production capacity, supply chain, workforce, inventory and other components of our business. We may incur costs in anticipation of demand that may not be realized or sustained, as well as unexpected costs to align our operations with changes in demand. If we do not effectively manage these challenges, our business performance and operating results may be adversely impacted. Even with effective allocation of resources and management of costs, our gross and operating margins, cash flows and earnings may be adversely impacted during periods of changing demand.
  4. 수정We are exposed to the risks of operating a global business.
    We have product development, engineering, manufacturing, sales and other operations distributed throughout many countries, and some of our business activities are concentrated in certain geographic areas. In the three-month period ended January 25, April 26, 2026, approximately 91% 88% of our revenue was from customers in regions outside the United States. As a result of the global nature of our operations, we are subject to a number of factors that could have an adverse impact on our business, financial condition and results of operations. These factors include global political and social conditions, such as policies or regulations within countries, including in China, the United States and countries in Europe and Asia, that favor domestic companies over non-domestic companies, including efforts to promote the development and growth of local competitors to us, or regarding national, commercial or security issues. Other factors include geopolitical turmoil, acts of war or social unrest; our ability to maintain appropriate business processes, procedures and internal controls in our geographically diverse operations;
  5. 수정We are exposed to the risks of operating a global business.
    Other factors include geopolitical turmoil, acts of war or social unrest; our ability to maintain appropriate business processes, procedures and internal controls in our geographically diverse operations; delays or restrictions on personnel travel and in shipping materials or products; our ability to develop relationships with local customers, suppliers and governments; performance of our geographically diverse third-party providers; impacts of regional or global health epidemics, natural disasters and extreme and chronic weather events; fluctuations in interest rates and currency exchange rates; as well as other factors discussed in this Risk Factors section. Ongoing conflict in the Middle East can exacerbate the foregoing factors and lead to regional instability and uncertain global economic conditions, including global or regional inflation, economic recession, challenges in purchasing materials used by us or by our customers in the manufacture of semiconductor chips, and disruptions to our supply chain and logistics. Any of these factors may have an adverse impact on our business and manufacturing operations or demand for our products and services, and our performance and results of operations may be adversely affected.
  6. 수정Global trade issues and changes in and uncertainties with respect to trade policies and export regulations, including import and export license requirements, trade sanctions, tariffs and international trade disputes, have adversely impacted and could further adversely impact our business and operations, and reduce the competitiveness of our products and services relative to local and global competitors.
    As a global business with customers, suppliers and operations in many countries around the world, from time to time we may receive inquiries from government authorities about transactions between us and certain foreign entities. For example, we have previously received subpoenas from government authorities requesting information relating to export controls compliance. On February 11, 2026, we entered into a settlement agreement with the U.S. Commerce Department Bureau of Industry and Security (BIS) to resolve its inquiry relating to certain China customer shipments and export controls compliance and agreed to pay BIS $253 million, which we paid in full during our second quarter of fiscal 2026, as well as conduct certain internal audits and maintain export compliance training and reporting mechanisms. Our failure to comply with the terms of the settlement agreement could result in significant penalties, including the loss of the suspension of the denial order which would prohibit us from exporting certain of our products outside of the United States. Any inquiries we may receive are subject to uncertainties, and we cannot predict the outcome of any governmental inquiries or proceedings that may occur. Any violation or alleged violation of law or regulations could result in significant legal costs or in legal proceedings in which we or our employees could be subjected to fines and penalties and could result in restrictions on our business and damage to our global brand and reputation, and could have a material and adverse impact on our business operations, financial condition and results of operations.
  7. 수정We are exposed to risks associated with a highly concentrated customer base.
    A relatively limited number of customers account for a substantial portion of our business. As a result, the actions of even a single customer have exposed and can further expose our business and operating results to greater volatility. Sales to individual customers and the mix and type of customers have varied and may continue to vary significantly, which can materially affect our operating results. significantly. Our products are configured to customer specifications, and changing, rescheduling or canceling orders may result in significant, non-recoverable costs. If customers do not place orders, or they substantially reduce, delay or cancel orders, we may be unable to replace the business, which could materially and adversely impact our results of operations. business. Our customer base is In addition, our customers are geographically concentrated, particularly in China, Taiwan and Korea, and export regulations that apply to customers in certain countries, such as those in China, have exposed previously and can further expose us to greater volatility. may in the future adversely affect our business. The geographic concentration of our customer base customers could shift over time as a result of due to changes in technology and technology, the competitive landscape, as well as and government policy policies and incentives to develop regional semiconductor industries. In addition, Any changes impacting our customer concentration increases our exposure to the financial condition of our customers, and any concentration, deterioration in a customer’s financial condition, liquidity, condition or ability to perform its obligations, or efforts by a customer to obtain pricing, payment, intellectual property-related or other commercial terms that are less favorable to us, could have a material and adverse effect on our results of operations and financial condition.
  8. 수정Supply chain disruptions, manufacturing interruptions or delays, or the failure to accurately forecast customer demand, could affect our ability to meet customer demand, lead to higher costs, or result in excess or obsolete inventory.
    Our business depends on ability to meet customer demand for our timely supply of products and services to meet the changing requirements of our customers, which depends in part on the timely delivery of parts, materials and services from our suppliers and contract manufacturers. Volatility in demand for our products and worldwide demand for semiconductor chips and electronic devices can impact our suppliers’ ability to meet our demand requirements and has in the past resulted past, and may in a shortage the future, result in shortages or delays in shipments of parts, materials and services needed to manufacture our products. Supply chain constraints and disruptions have in the past, and may in the future, increase costs of logistics and parts for our products and cause delays in our equipment production and delivery schedules. We may further experience These supply chain disruptions, challenges may result in significant interruptions of our manufacturing operations, delays in our ability to deliver or install products or services, increased costs, customer order cancellations or reduced demand for our products as a result of: products. Factors that may lead to supply chain challenges include:
  9. 수정Supply chain disruptions, manufacturing interruptions or delays, or the failure to accurately forecast customer demand, could affect our ability to meet customer demand, lead to higher costs, or result in excess or obsolete inventory.
    If we need to rapidly increase our business and manufacturing capacity to meet increases in demand or expedited shipment schedules, this may strain our manufacturing and supply chain operations and negatively impact our working capital. If we are unable to accurately forecast demand for our products, we may purchase more or fewer parts than necessary or incur costs for canceling, postponing or expediting delivery of parts. If we purchase or commit to purchase inventory in anticipation of customer demand that does not materialize, or the inventory is rendered obsolete by the rapid pace of technological change, or if customers reduce, delay or cancel orders, we may incur excess or obsolete inventory charges. Additionally, if anticipated levels of demand are not realized, we may incur fixed costs from underutilized production capacity and our gross margin may be adversely impacted.
  10. 수정We are exposed to various factors that impact the industries in which we operate, including factors specific to the semiconductor industry.
    The largest proportion of our revenue and profitability is derived from our Semiconductor Systems segment’s sale of a wide range of equipment used to fabricate semiconductor chips, and a majority of the revenue of Applied Global Services is from sales to semiconductor manufacturers. The Factors particular to the semiconductor industry and other industries in which we operate are characterized by factors particular to these industries in that impact demand for and the profitability of our products and services, including: services include:
  11. 수정We are exposed to various factors that impact the industries in which we operate, including factors specific to the semiconductor industry.
    •changes in demand for semiconductor chips due to changes in the timing of, level of investment in, or technologies used in the buildout of data centers; centers, including data center buildout driven by demand for AI technologies;
  12. 수정The industries in which we operate are highly competitive and subject to rapid technological and market changes.
    We operate in a highly competitive environment in which where innovation is critical, and our future success depends on our ability to anticipate and respond to technology inflections, evolving customer requirements, competitor innovations, and changes in market demand. The development, introduction and support of products in a geographically diverse and competitive environment requires collaboration with customers and other industry participants, which has grown more complex and costly. New or improved products may entail higher costs and longer development cycles, and may have unforeseen product design or manufacturing defects. To compete successfully, we must:
  13. 수정The industries in which we operate are highly competitive and subject to rapid technological and market changes.
    •develop new products and disruptive technologies, improve and develop new applications for existing products, and adapt products for use by customers in different applications and markets with varying technical requirements;
  14. 수정The industries in which we operate are highly competitive and subject to rapid technological and market changes.
    •maintain operating flexibility to enable responses respond to changing markets, applications and customer requirements;
  15. 수정The industries in which we operate are highly competitive and subject to rapid technological and market changes.
    •enhance our worldwide operations across our businesses to reduce costs and cycle time, times, enable continuous quality improvement, reduce costs, and enhance improve design for manufacturability and serviceability;
  16. 수정The industries in which we operate are highly competitive and subject to rapid technological and market changes.
    •effectively allocate resources between among our existing products and markets, the development of new products, product development, and expanding into new and adjacent markets; market expansion;
  17. 수정The industries in which we operate are highly competitive and subject to rapid technological and market changes.
    •improve the productivity of capital invested in research and development activities; investments;
  18. 수정The industries in which we operate are highly competitive and subject to rapid technological and market changes.
    •accurately forecast demand, work with suppliers and meet production schedules for our products, schedules, improve our manufacturing processes and achieve cost efficiencies across product offerings; and
  19. 수정The industries in which we operate are highly competitive and subject to rapid technological and market changes.
    •implement changes in •enhance our design engineering methodology to reduce material costs and cycle time and improve product life cycle management.
  20. 수정We are exposed to risks associated with expanding into new and related markets and industries.
    As part of our growth strategy, we seek to continue to expand into related or new markets and industries, either with through our existing products and new products, or with new through products developed internally, or those developed in collaboration with third parties, parties or obtained through acquisitions. Our ability to successfully expand our business into new and related markets and industries may be adversely affected by a number of factors, including:
  21. 수정We are exposed to risks associated with expanding into new and related markets and industries.
    •the need to develop new sales and technical marketing strategies and to develop relationships with new customers;
  22. 수정We are exposed to risks associated with expanding into new and related markets and industries.
    •differing rates of profitability and growth among rates across multiple businesses;
  23. 수정We are exposed to risks associated with expanding into new and related markets and industries.
    •the adoption of new business models, business processes and systems;
  24. 수정We are exposed to risks associated with expanding into new and related markets and industries.
    •new and more diverse customers and suppliers, including some with limited operating histories, uncertain or limited funding, evolving business models or locations operations in regions where we do not have, have limited or have limited, operations; no presence;
  25. 수정We are exposed to risks associated with expanding into new and related markets and industries.
    •new or different competitors with potentially more financial or other resources, industry experience and or established customer relationships;
  26. 수정We are exposed to risks associated with expanding into new and related markets and industries.
    •the need to comply with, with or work to establish, establish industry standards and practices.
  27. 수정We are exposed to cybersecurity threats and incidents.
    In the conduct of our business, we use information technology (IT) and operational technology (OT) systems, including systems owned and maintained by us or our third-party providers, to monitor and control our operations, and collect, transmit, store and otherwise process data, including confidential information and intellectual property belonging to us or our customers or other business partners, and personal information of individuals. These technologies are subject to disruptions, outages, failures and cybersecurity breaches or incidents arising from a variety of factors, and we and our third-party providers expect to continue to experience such incidents. Cybersecurity incidents may include physical attacks on computer systems or network infrastructure; employee or contractor error, misuse or unauthorized access; attempts to gain unauthorized access to systems or data; as well as sophisticated cyberattacks or advanced persistent threats, any of which may impact us directly or through our third-party providers and global supply chain. Threat actors may seek to manipulate our employees, suppliers, third-party providers or customers to gain access to our, our customers’ or business partners’ data. Cybersecurity attacks are increasing and attackers are increasingly organized and well-financed, or at times supported by state actors. Geopolitical tensions or conflicts may further increase cybersecurity risk. Threat actors’ techniques evolve rapidly and may increasingly incorporate new technologies, including AI and quantum computing. The emergence and maturation of AI capabilities, including ones involving large language models, may enable new or more effective methods of cyberattacks, including deepfake impersonation, phishing, social engineering or the automated detection and exploitation of previously unknown vulnerabilities. Vulnerabilities, technical errors and other risks may be introduced through the use of AI by us, our customers, suppliers and other business partners and third-party providers, or through the use of third-party hardware and software. Advances in quantum computing could undermine current encryption standards and allow threat actors to bypass security measures. Although we are not aware of any cybersecurity incidents impacting our information IT or OT systems that have had a material impact on us to date, we continue to devote significant resources to network security, data encryption and other measures to protect our systems and data from unauthorized access or misuse, and we may be required to expend greater resources in the future. We may be unable to anticipate, prevent or remediate future incidents, and in some instances, we may be unaware of incidents or their scope, particularly as attackers may evade controls or remove forensic evidence. Cybersecurity incidents may result in delays in our product development and delivery; disruptions to our manufacturing, communications and reporting of financial results; theft or misappropriation of intellectual property or critical data belonging to us or our customers; corruption, loss of, or inability to access (e.g., through ransomware or denial of service) confidential information and critical data; reputational damage; private claims, demands, litigation and regulatory inquiries, enforcement actions or other proceedings; diminution in the value of our investment in research, development and engineering; and increased costs associated with cybersecurity detection, prevention and remediation. We are subject to changing laws, regulations and contractual and other obligations concerning privacy, cybersecurity and data protection, including restrictions on cross-border data transfers and data localization as well as increasingly rigorous contractual provisions demanded by our customers and third-party providers. Compliance with these obligations may require significant expenditures, and any actual or alleged failure to comply could result in inquiries, enforcement actions and other proceedings by regulators or other third parties.
  28. 수정We are exposed to risks associated with business combinations, acquisitions, strategic investments and divestitures.
    •inability to complete proposed transactions timely or at all due to the failure to obtain regulatory or other approvals, including through expanding under global national security regimes that impose prohibitions on prohibit or restrict foreign investments in or acquisitions of local businesses; businesses, litigation or other disputes, and any ensuing obligation to pay a termination fee;
  29. 수정We are exposed to risks associated with business combinations, acquisitions, strategic investments and divestitures.
    •the failure •failure to realize expected revenues, gross and operating margins, net income and other returns from acquired businesses;
  30. 수정We are exposed to risks associated with business combinations, acquisitions, strategic investments and divestitures.
    •requirements imposed by government regulators in connection with their review of a transaction, transaction review, including post-closing investigations of non-notified transactions, which may include, among other things, divestitures and restrictions on the conduct of our existing business or the acquired business;
  31. 수정We are exposed to risks associated with business combinations, acquisitions, strategic investments and divestitures.
    •following completion of acquisitions, •failure to realize anticipated synergies due to ineffective integration of businesses, operations, systems, digital and physical security, technologies, products, employees, compliance programs, changes in laws or regulations, including tax laws, or other factors, may impact the ability to realize anticipated synergies or other benefits; factors;
  32. 수정We are exposed to risks associated with business combinations, acquisitions, strategic investments and divestitures.
    •increases in debt obligations to finance activities associated with a transaction, which increase interest expense, and reductions in cash balances, which reduce the availability of cash flow for general corporate or other purposes, including share repurchases and dividends;
  33. 수정We are exposed to risks associated with business combinations, acquisitions, strategic investments and divestitures.
    •exposure to new operational risks, rules, regulations, worker expectations, customs and practices to the extent acquired businesses are located in regions where we have not historically conducted business; operated;
  34. 수정We are exposed to risks associated with business combinations, acquisitions, strategic investments and divestitures.
    •impairment of acquired intangible assets and goodwill as a result of due to changing business conditions, technological advancements or worse-than-expected performance of the segment; segment underperformance;
  35. 수정We are exposed to risks associated with business combinations, acquisitions, strategic investments and divestitures.
    We make investments in other companies, including companies formed as joint ventures, which may decline in value or not meet desired objectives. The success of these investments depends on various factors over which we may have limited or no control and, particularly with respect to joint ventures, requires ongoing and effective cooperation with partners. Legislative or regulatory changes, as well as global economic or political conditions, may restrict our ability to invest in certain countries or require regulatory approvals that we may not obtain or may impose significant conditions or obligations.
  36. 수정We are exposed to risks associated with business combinations, acquisitions, strategic investments and divestitures.
    We may seek to divest portions of our business businesses that are not deemed to no longer fit with our strategic plan. Divestitures involve additional risks and uncertainties, such as our ability to sell these businesses at a price and on acceptable terms that are satisfactory and in a timely manner or at all, disruption to other parts of the businesses and distraction of management, allocation diversion of internal resources that would otherwise be devoted to completing away from strategic acquisitions or other strategic projects or initiatives, loss of key employees or customers, loss of access by retained business units to critical intellectual property or other assets transferred with the divested business, exposure to unanticipated liabilities or ongoing obligations to support the businesses following these divestitures and other adverse financial impacts.
  37. 수정Our indebtedness and debt covenants could adversely affect our financial condition and business.
    As of January 25, 2026 April 26, 2026, we had $6.5 billion of senior unsecured notes outstanding and, pursuant to their terms, we may be required to offer to repurchase the notes at a price equal to 101% of the principal amount, plus accrued and unpaid interest, if we experience a change of control and a contemporaneous downgrade of the notes below investment grade. We also have revolving credit facilities that allow us to borrow up to approximately $4.1 billion. While no amounts were outstanding under these credit facilities as of January 25, April 26, 2026, we may borrow amounts in the future under these facilities or enter into new financing arrangements. Our ability to satisfy our debt obligations is dependent upon the results of our business operations and subject to other risks discussed in this section. If we fail to satisfy our debt obligations, or comply with financial and other debt covenants, we may be in default and any borrowings may become immediately due and payable, and such default may constitute a default under our other obligations. There can be no assurance that we would have sufficient financial resources or be able to arrange financing to repay any borrowings at such time. Significant changes in our credit rating, disruptions in the global financial markets, or incurrence of new or refinancing of existing indebtedness at higher interest rates could have a material and adverse impact on our access to and cost of capital for future financings and our financial condition.
  38. 수정Our business depends on the successful implementation and proper functioning of information systems we use.
    Our business depends on certain information systems, including, including enterprise resource planning, product research and development, financial reporting, information technology network management and telecommunications. telecommunications, which may be maintained by us or third-party vendors. Failures of these systems could disrupt our operations, impede our ability to timely and accurately process and report financial results, and adversely impact our business, financial condition and results of operations.
  39. 수정Our business depends on the successful implementation and proper functioning of information systems we use.
    Implementation of We periodically implement new business processes and or enhanced information systems systems, which requires the commitment of significant personnel, training and financial resources, and entails risks to our business operations. If the implementation or improvement of information systems is delayed or unsuccessful, we may not realize anticipated productivity improvements or cost efficiencies and may experience service interruptions in service and operational difficulties, which could result in quality issues, reputational harm, lost market and revenue opportunities and otherwise adversely affect our business, financial condition and results of operations.
  40. 수정Implementation and reporting on our sustainability strategies and targets could result in additional costs, and our inability to achieve them could have an adverse impact on our reputation and performance.
    We periodically communicate our strategies and targets related to sustainability matters. These strategies and targets, and their underlying assumptions, reflect our current plans and aspirations, and we may be unable to achieve them. Our sustainability efforts may require significant expenditures and for us to alter our manufacturing, operations or equipment designs and processes. We may face changing expectations and requirements from customers, shareholders and regulators, including increasing customer demand for sustainable products. We also are or may become subject to new climate and sustainability laws and regulations, such as the State of California’s climate change disclosure rules, the European Union’s Corporate Sustainability Reporting Directive and International Sustainability Standards Board standards. In addition, standards Standards and processes for measuring and reporting greenhouse gas emissions and other sustainability metrics may change over time and may result in inconsistent data, increase our costs, result in significant revisions to our strategies and targets or impact our ability to achieve them. Any failure or perceived failure to timely comply with or meet these our sustainability requirements, expectations or targets, or a failure to realize the anticipated benefits of planned investments and technology innovations related to sustainability, could adversely impact the demand for our products and products, subject us to significant costs and liabilities and reputational risks that could risks, and in turn adversely affect our business, financial condition and results of operations.
  41. 수정We are subject to risks associated with environmental, health and safety regulations.
    We are subject to environmental, health and safety regulations in connection with our global business operations, including but not limited to: (EHS) regulations related to to, among other things, the design, manufacture, sale, shipping, import, export and use of our products; the use, handling, discharge, recycling, transportation and disposal of hazardous materials used in our products or in producing our products; the operation of our facilities; and the use of our real property, including in connection with construction of our infrastructure projects. The failure or inability to comply with existing or future environmental, health and safety EHS regulations could result in: significant remediation or other legal liabilities; the imposition of liabilities, penalties and or fines; restrictions on the development, manufacture, sale, shipping, import, export or use of certain of our products; limitations on the operation operations of our facilities or ability to use of our real property; and a decrease in the value of our real property. We could be required to alter our product design, manufacturing and operations and incur substantial expense to comply with environmental, health and safety EHS regulations, including reporting requirements. Any failure to comply with these regulations could subject us to significant costs and liabilities that could materially and adversely affect our business, financial condition and results of operations.
  42. 문장 삭제The industries we serve can be volatile and difficult to predict.
    Artificial intelligence (AI) and technologies related to AI are a significant demand driver for the industries we serve. AI is evolving rapidly and the expected timing and amount of investments related to AI can change significantly. As a result, it is difficult to accurately forecast demand for our products related to AI. The amount and mix of our customers’ capital equipment spending between different products and technologies can also significantly impact our operating results.
  43. 문장 삭제The industries we serve can be volatile and difficult to predict.
    We may incur unexpected or additional costs to align our business operations with changes in demand.
  44. 문장 삭제Supply chain disruptions, manufacturing interruptions or delays, or the failure to accurately forecast customer demand, could affect our ability to meet customer demand, lead to higher costs, or result in excess or obsolete inventory.
    These shortages, as well as delays in and unpredictability of shipments due to transportation interruptions, may adversely impact our manufacturing operations and our ability to meet customer demand. Supply chain constraints may increase costs of logistics and parts for our products and may cause us to pass on increased costs to our customers, which may lead to reduced demand for our products. Supply chain disruptions have in the past caused, and may from time to time cause, delays in our equipment production and delivery schedules, which can lead to our business performance becoming significantly dependent on quarter-end production and delivery schedules.
  45. 문장 삭제We are exposed to various factors that impact the industries in which we operate, including factors specific to the semiconductor industry.
    The industries in which we operate are characterized by factors that impact demand for and the profitability of our products and services and our operating results.
  46. 삭제We are exposed to risks associated with expanding into new and related markets and industries.
    •entry into new industries and countries, with differing levels of government involvement, laws and regulations, and business, employment and safety practices and requirements;
  47. 문장 삭제We are exposed to cybersecurity threats and incidents.
    AI and deepfake technologies may enable more effective phishing, social engineering or exploitation of electronic security programs utilizing false image or voice recognition.
  48. 문장 삭제We are exposed to risks associated with business combinations, acquisitions, strategic investments and divestitures.
    In addition, new legislation, additional regulations or global economic or political conditions may affect or impair our ability to invest in certain countries or require us to obtain regulatory approvals to do so. We may not receive the necessary regulatory approvals, or the approvals may come with significant conditions or obligations. The risks to our investment portfolio may be exacerbated by unfavorable financial market and macroeconomic conditions, and as a result, the value of the investment portfolio could be negatively impacted and lead to impairment charges.
  49. 문장 삭제Our business depends on the successful implementation and proper functioning of information systems we use.
    These systems may be maintained by us or by our third-party vendors.
  50. 문장 삭제Our business depends on the successful implementation and proper functioning of information systems we use.
    We periodically implement new or enhanced information systems.
  51. 문장 삭제Implementation and reporting on our sustainability strategies and targets could result in additional costs, and our inability to achieve them could have an adverse impact on our reputation and performance.
    Changing customer and shareholder sustainability expectations, including increasing customer demand for sustainable products, and regulatory requirements, as well as actions taken to achieve our sustainability targets, could cause us to incur substantial expense and alter our manufacturing, operations or equipment designs and processes. Compliance with such laws and regulations, as well as increased scrutiny from regulators, customers and other stakeholders on our sustainability practices, could result in additional costs and expose us to new risks. Any scrutiny of our greenhouse gas emissions or other sustainability disclosures, our failure to achieve related strategies and targets, or our failure to disclose our sustainability measures consistent with applicable laws and regulations or to the satisfaction of regulators or our stakeholders could negatively impact our reputation or performance.