Applied Materials Inc. suffered the worst single-day stock decline in five years after giving a disappointing sales and profit forecast, renewing concerns that the US trade dispute with China is weighing on demand.

Revenue will be approximately $6.7 billion in the fiscal fourth quarter, the company said in a statement Thursday. The company is seeing less demand from customers in China, Chief Executive Officer Gary Dickerson said in an interview.

Shares of Applied Materials sank 13% in premarket trading Friday, a day after the semiconductor equipment manufacturer gave weaker-than-expected guidance as global economic and tariff worries impact its business,