Applied Materials Beats Estimates and Raises Q3 Forecast
Applied Materials forecast Q3 revenue of $8.95 billion on strong AI demand. The company also reported Q2 results that exceeded average analyst expectations.
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APPLIED MATERIALS INC forecast third-quarter revenue of $8.95 billion, exceeding analyst estimates of $8.09 billion on sustained artificial intelligence infrastructure spending. Shares in the United States-based firm rose more than 4% during late evening trading following the announcement. The outlook confirms that the AI build-out is driving demand for complex chip-making tools beyond just silicon wafers.
