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Applied Materials Gives Weak Forecast as Shortages Drag On

  • Lockdowns in China hurt Applied’s stretched supply chain
  • Company missed out on $150 million of revenue on lack of parts
A technician works on a computer at the Applied Materials facility in Santa Clara, California.

A technician works on a computer at the Applied Materials facility in Santa Clara, California.

Photographer: David Paul Morris/Bloomberg
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Applied Materials Inc., the biggest maker of machinery used to manufacture semiconductors, slipped in late trading after persistent chip shortages weighed on its forecast for the current quarter.

Sales will be about $6.25 billion in the fiscal third quarter, which runs through July, the company said in a statement Thursday. Analysts estimated $6.69 billion on average, according to data compiled by Bloomberg. Profit will be $1.59 to $1.95 a share in the period, excluding some items, compared with an average prediction of $2.05.