© Reuters. A smartphone with a displayed Applied Materials logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/file photo
(Reuters) – Semiconductor equipment maker Applied Materials (NASDAQ:) forecast fourth-quarter revenue above market estimates on Thursday, as it rides on strong demand from chipmakers setting up new manufacturing plants.
The Santa Clara, California-based company expects revenue of $6.51 billion, plus or minus $400 million, compared with analysts’ average estimate of $5.86 billion, according to Refinitiv data.