Applied Materials Forecast Signals It’s Weathering Slowdown
- Supply-chain improvements help offset sluggish economy
- China export curbs could cost the company $2.5 billion in 2023
Applied Materials headquarters in Santa Clara, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Applied Materials Inc., the biggest maker of chip-manufacturing equipment, gave a better-than-feared sales forecast for the current quarter as supply-chain improvements help offset an economic slowdown.
Fiscal first-quarter sales will be roughly $6.7 billion, up from a year earlier, the company said in a statement Thursday. That compares with an average analyst estimate of $6.34 billion.