By Juby Babu
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.
Even so, its shares dropped more than 5% in extended trading as lofty investor expectations overshadowed the results. The stock has more than doubled this year.
Expectations are elevated as the chip equipment maker reports after peers Lam Research and KLA posted solid quarterly performances and forecast revenue growth, Stifel's Brian Chin said.
According to CFRA **** yst Brooks Idlet, the results and the forecast were not enough to impress the Street, but the print was still solid as momentum clearly continues to improve. "We think calendar year 2027 consensus estimates leave room for upside if recent strength continues."
#street #revenue #solid #continues
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.
Even so, its shares dropped more than 5% in extended trading as lofty investor expectations overshadowed the results. The stock has more than doubled this year.
Expectations are elevated as the chip equipment maker reports after peers Lam Research and KLA posted solid quarterly performances and forecast revenue growth, Stifel's Brian Chin said.
According to CFRA **** yst Brooks Idlet, the results and the forecast were not enough to impress the Street, but the print was still solid as momentum clearly continues to improve. "We think calendar year 2027 consensus estimates leave room for upside if recent strength continues."
#street #revenue #solid #continues
2 months ago
