Applied Materials Sees Sales Drop as Chipmakers Pull Back Spending
- Sales to fall this quarter, though not as sharply as feared
- The company is grappling with a severe memory-chip downturn
Applied Materials Inc. facility in Santa Clara, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Applied Materials Inc. expects sales to decline in the current quarter as it grapples with a memory-chip slump, though the drop won’t be as sharp as some analysts had feared.
Fiscal third-quarter sales will be about $6.15 billion, the company said in a statement Thursday, compared with $6.52 billion a year earlier. Analysts had estimated $5.97 billion.