Applied Materials Predicts Sales Below Estimates
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Applied Materials Inc., the world’s largest producer of chipmaking equipment, forecast fiscal fourth-quarter sales that may fall short of analysts’ estimates as some customers rein in expansion plans.
Sales in the current period will fall 25 percent to 40 percent from the prior quarter, the company said yesterday in a statement, indicating revenue of $1.41 billion to $1.76 billion. Analysts on average estimated sales of $1.95 billion, according to data compiled by Bloomberg.