Applied Materials Falls After Reducing Fiscal 2012 Forecast
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Applied Materials Inc. shares fell after the chipmaking-equipment provider sliced its fiscal 2012 sales and profit forecasts amid weakness in Europe, China, and the personal-computer market.
For the year that ends Oct. 28, 2012, net sales won’t reach the previous outlook of $9.1 billion to $9.5 billion, the Santa Clara, California-based company said today in statement. Per-share earnings excluding some items will be less than a previous projection of 85 cents a share to 95 cents, the company said.