Applied Materials sees revenue above estimates, shares fall on high expectations

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, which supplies tools for key wafer fabrication processes such as physical vapor deposition ​and ion implantation, is benefiting from increased spending by chipmakers to support a rapid build-out of AI infrastructure. Yet, its shares fell 4% in extended trading on high investor expectations heading into the results.