Applied Materials Inc., the largest US maker of chip-manufacturing equipment, delivered an in-line sales forecast that disappointed investors who’d been looking for a bigger payoff from artificial intelligence spending.
Fiscal fourth-quarter sales will be about $6.93 billion, the company said in a statement Thursday. That matched the average analyst estimate, according to data compiled by Bloomberg. Profit, minus certain items, will be roughly $2.18 a share. Analysts were projecting $2.15 for the period, which runs through October.
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