Analog Devices Forecasts Strong Fourth-Quarter Results
Analog Devices projected fourth-quarter revenue and profit above estimates, driven by strong demand for power-management chips used in data centers and AI computing. The chipmaker also reported third-quarter results that topped expectations.
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ANALOG DEVICES INC forecast fourth-quarter revenue of $4.3B, topping Wall Street estimates of $4.07B on strong AI-driven chip demand. The upbeat guidance follows a third-quarter revenue beat driven by surging power-management hardware sales. Investors are rewarding the chipmaker as data center investments accelerate across the United States.
