Stock Market News

Applied Materials forecasts upbeat fourth quarter

2023.08.17 16:26


© 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 results above market estimates on Thursday on strong demand from chipmakers setting up new manufacturing plants, sending its shares up 3% after the bell.

Governments across the globe have in the past year doled out billions of dollars in subsidies to boost domestic chip manufacturing, which benefited companies such as Applied Materials and KLA whose tools are essential in chip making.

The companies have also gained from China’s efforts to stock up on tools for making chips with legacy technologies after U.S. export control rules blocked sales of more advanced chipmaking technologies to the country.

Santa Clara, California-based Applied Materials expects revenue of $6.51 billion in the fourth quarter, plus or minus $400 million, compared with analysts’ average estimate of $5.86 billion, according to Refinitiv data.

It expects adjusted profit per share between $1.82 and $2.18, above market estimate of $1.61.

Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 98,797.47 1.02%
ethereum
Ethereum (ETH) $ 3,487.99 5.63%
tether
Tether (USDT) $ 1.00 0.04%
solana
Solana (SOL) $ 261.71 2.46%
bnb
BNB (BNB) $ 675.50 8.94%
xrp
XRP (XRP) $ 1.55 9.36%
dogecoin
Dogecoin (DOGE) $ 0.464012 16.65%
cardano
Cardano (ADA) $ 1.10 23.05%
usd-coin
USDC (USDC) $ 1.00 0.01%
staked-ether
Lido Staked Ether (STETH) $ 3,487.73 5.66%
tron
TRON (TRX) $ 0.222939 12.22%
avalanche-2
Avalanche (AVAX) $ 42.76 11.29%
shiba-inu
Shiba Inu (SHIB) $ 0.000028 11.72%
the-open-network
Toncoin (TON) $ 6.15 12.75%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,111.78 5.16%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 98,649.43 1.11%
stellar
Stellar (XLM) $ 0.453727 55.52%
polkadot
Polkadot (DOT) $ 8.19 33.81%
chainlink
Chainlink (LINK) $ 17.60 16.78%
bitcoin-cash
Bitcoin Cash (BCH) $ 539.59 13.10%
sui
Sui (SUI) $ 3.65 3.66%
weth
WETH (WETH) $ 3,497.23 5.92%
pepe
Pepe (PEPE) $ 0.000022 8.91%
leo-token
LEO Token (LEO) $ 8.63 1.40%
near
NEAR Protocol (NEAR) $ 6.41 14.69%
litecoin
Litecoin (LTC) $ 102.90 15.76%
aptos
Aptos (APT) $ 12.98 9.66%
uniswap
Uniswap (UNI) $ 10.83 15.05%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,675.99 5.76%
hedera-hashgraph
Hedera (HBAR) $ 0.150328 15.50%
internet-computer
Internet Computer (ICP) $ 11.47 17.11%
crypto-com-chain
Cronos (CRO) $ 0.201336 8.47%
usds
USDS (USDS) $ 1.00 0.21%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.582762 28.75%
ethereum-classic
Ethereum Classic (ETC) $ 30.87 12.44%
render-token
Render (RENDER) $ 8.02 12.04%
kaspa
Kaspa (KAS) $ 0.161249 9.79%
bittensor
Bittensor (TAO) $ 542.97 11.13%
bonk
Bonk (BONK) $ 0.000051 2.64%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.09%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.44 16.69%
arbitrum
Arbitrum (ARB) $ 0.874702 9.96%
whitebit
WhiteBIT Coin (WBT) $ 24.68 0.04%
vechain
VeChain (VET) $ 0.043896 35.97%
dogwifcoin
dogwifhat (WIF) $ 3.54 12.39%
dai
Dai (DAI) $ 1.00 0.12%
mantra-dao
MANTRA (OM) $ 3.78 3.46%
cosmos
Cosmos Hub (ATOM) $ 8.26 17.01%
blockstack
Stacks (STX) $ 2.12 12.27%
filecoin
Filecoin (FIL) $ 5.30 14.85%