Applied Materials forecasts quarterly revenue above estimates on strong AI chip demand
AMAT•Applied Materials forecast first-quarter revenue of about $11.10 billion, plus or minus $500 million, above the $10.89 billion analyst estimate. Fourth-quarter revenue was $10.41 billion, also above estimates of $10.30 billion.
1. Revenue forecast tops estimates
Applied Materials forecast first-quarter revenue of around $11.10 billion, plus or minus $500 million, compared with analysts’ average estimate of $10.89 billion. The company said strong demand for advanced AI chips is expected to continue fueling spending on semiconductor manufacturing equipment.
2. Fourth-quarter revenue beats
Applied Materials reported fourth-quarter revenue of $10.41 billion, above the average analyst estimate of $10.30 billion.
