Applied Materials’ Forecast Shows Bright Spots in Chip World
- The shares gain after forecast exceeds analysts’ estimates
- Automotive chipmakers have helped bolster company’s results
This article is for subscribers only.
Applied Materials Inc., the biggest maker of semiconductor-manufacturing equipment, gave a strong sales forecast for the current quarter, benefiting from demand for gear that makes auto and industrial chips.
Second-quarter sales will be about $6.4 billion, the company said in a statement Thursday. That beat the average analyst estimate of $6.3 billion and helped send Applied Materials shares up as much as 3.5% in late trading.