Investors have been looking to Applied Materials for signs that a chip recovery is well underway. The company is a major supplier to the industry’s biggest manufacturers: Taiwan Semiconductor Manufacturing Co, Samsung Electronics Co and Intel Corp. That makes its outlook an indicator of demand in a crucial part of the electronics supply chain.
Applied Materials Inc, the largest US maker of chipmaking machinery, failed to impress investors with its latest forecast following a rally in the shares this year.
Fiscal third-quarter sales will be roughly US$6.65 billion, the company said in a statement Thursday. Though that topped the average Wall Street estimate, some analysts had predicted revenue as high as US$7.13 billion. Excluding some items, profit will be US$1.83 to US$2.19 a share in the three-month period, which runs through July. Analysts projected US$1.98.
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