Aug 13 (Reuters) – Applied Materials forecast fourth-quarter revenue above Wall Street expectations on Thursday, betting that unabated demand for advanced AI chips will continue to fuel robust spending on its semiconductor manufacturing equipment.
The company forecast quarterly revenue of around $10.25 billion, plus or minus $500 million, compared with analysts’ average estimate of $9.54 billion, according to data compiled by LSEG.
(Reporting by Juby Babu in Mexico City; Editing by Shilpi Majumdar)
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