Applied Materials forecasts quarterly revenue above estimates on strong AI chip demand

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Nov 12 : Applied Materials forecast first-quarter revenue above Wall Street expectations on Thursday, betting that strong demand for advanced AI chips will continue to fuel spending on its semiconductor manufacturing equipment.

The company forecast quarterly revenue of around $11.10 billion, plus or minus $500 million, compared with the average of analysts' estimates of $10.89 billion, according to data compiled by LSEG.

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