Applied Materials’ Middle-of-Road Sales Forecast Underwhelms
- Shares dip in late trading after company’s quarterly report
- Chip-equipment maker is seen as beneficiary of AI spending
This article is for subscribers only.
Applied Materials Inc., the largest US maker of chip-manufacturing equipment, delivered an in-line sales forecast that disappointed investors who’d been looking for a bigger payoff from artificial intelligence spending.
Fiscal fourth-quarter sales will be about $6.93 billion, the company said in a statement Thursday. That matched the average analyst estimate, according to data compiled by Bloomberg. Profit, minus certain items, will be roughly $2.18 a share. Analysts were projecting $2.15 for the period, which runs through October.