Applied Materials has forecast third-quarter revenue above Wall Street estimates, betting that heavy spending on data centres and AI infrastructure would sustain strong demand for its chip-making tools.<\/p>\n
The world\u2019s largest supplier of semiconductor manufacturing equipment, providing the machines and technology used to produce chips for electronics and AI<\/a>, said it expects revenue of about $8.95 billion, plus or minus $500\u200a\u200amillion, for the current quarter, compared with estimates of $8.09 billion, according to data compiled by the London Stock Exchange Group.<\/p>\n Applied Materials, founded in 1967 by Michael McNeilly in California, \u00adreported that second-quarter revenue to April 26 was up 11 per cent at $7.91 billion, a record, against estimates of $7.65 billion. <\/p>\n Business newsletter<\/p>\n The business editor\u2019s exclusive analysis of all the latest financial and economic news.<\/p>\n \t\t\t\t\tSign up with one click<\/p>\n Net income rose 31 per cent to $2.8 billion, from $2.1 billion in the same three months a year ago.<\/p>\n Gary Dickerson, chief executive, said: \u201cWe now expect our semiconductor equipment business to grow more than 30 per cent in calendar 2026.\u201d<\/p>\n The shares rose 4.9 per cent to $440.56 in after-hours trading following the results, released on Thursday night, leaving the stock 153 per cent higher over the past year.<\/p>\n Brice Hill, chief financial officer, said: \u201cThe growth in AI that Applied has been investing for is now in full force.\u201d<\/p>\n