Reuters reported that Applied Materials on 12 November forecast first-quarter revenue of around $11 billion, plus or minus $500 million, above the average analyst estimate compiled by LSEG. The Santa Clara, California-based company supplies equipment used in wafer fabrication.
Applied Materials expects demand for advanced AI chips to continue driving spending on its manufacturing equipment. Chipmakers have increased spending to support the build-out of AI infrastructure, Reuters reported.
For the fourth quarter, Applied Materials reported revenue of about $10 billion, ahead of analysts’ average estimate. Its shares rose 3% in extended trading.
