BUZZ-PREVIEW: Applied Materials climbs ahead of AI-focused results

** Applied Materials AMAT.O shares climbing 1.4% on Thursday ahead of quarterly results after the bell, with focus on demand for its chip-manufacturing tools related to buildout of AI data centers.

** The semiconductor equipment maker is expected to post quarterly revenue up 23% to $8.99 billion and adjusted EPS of $3.39, up from $2.48 a year ago, per LSEG.

** The company in May forecast strong third-quarter results, citing sustained spending on data centers and AI infrastructure.

** The stock has surged about 116% year to date, far outpacing the 15% gain in the Nasdaq .IXIC, and it remains down about 23% from its record-high close on June 30.

** AMAT recently traded at 34x forward earnings, above its 20x five-year average, per LSEG data.