Applied Materials forecasts quarterly revenue above estimates on strong AI chip demand
Applied Materials anticipates first-quarter revenue surpassing Wall Street forecasts, driven by robust demand for AI chips, according to a report on November 12. The Santa Clara, California-based firm's shares rose 3% in extended trading following the forecast. The company, which provides equipment for critical wafer-fabrication processes, anticipates quarterly revenue of approximately $11.10 billion, with a margin of error of $500 million.
This outlook contrasts with analysts' average estimate of $10.89 billion. In the previous quarter, Applied Materials reported revenue of $10.41 billion, outperforming analysts' average estimate of $10.30 billion.
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