Applied Materials Forecasts Strong AI Chip Demand
Applied Materials forecast fiscal first-quarter revenue above Wall Street expectations. The company is benefiting from strong demand for advanced artificial intelligence chips. Executives expect another record year for the market.
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Applied Materials Inc forecast fiscal first-quarter revenue of around $11.10 billion, beating Wall Street estimates of $10.89 billion on robust artificial intelligence chip demand. The equipment maker's shares have climbed about 48% this year amid sustained industry spending. Strong capital expenditure highlights the race among chipmakers to secure wafer-fabrication tools.
