Reported 5 days ago
Applied Materials Inc. has released a lukewarm revenue forecast of approximately $7.1 billion for the upcoming fiscal second quarter, lower than Wall Street's $7.22 billion estimate. The company attributes this adjustment to the impact of U.S. export controls on its business operations in China, which constituted a significant portion of its sales. As a result, shares dropped about 5% in extended trading. Despite hurdles, Applied Materials is experiencing robust demand for advanced chip-making equipment due to the AI industry's growth.
Source: YAHOO