Applied Materials forecasts strong quarterly revenue on AI chip demand

(Reuters) -Applied Materials, U.S.-based maker of semiconductor manufacturing equipment, forecast upbeat first-quarter revenue on Thursday, signaling that robust demand for tools used to make AI chips is set to overpower a broader industry slowdown. The company forecast current-quarter revenue of $6.85 billion, plus or minus $500 million. Analysts on average expect revenue of $6.76 billion, according to data compiled by LSEG. (Reporting by Akash Sriram in Bengaluru; Editing by Tasim Zahid)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)