Applied Materials Forecasts Higher Q2 Revenue Above Expectations on PC Market Recovery and AI Boom

February 15 (Reuters) – Leading semiconductor equipment supplier Applied Materials has projected second-quarter revenue surpassing market expectations, buoyed by the recovery in the personal computer (PC) market and the exponential growth of artificial intelligence (AI).

AI-embedded personal computers have become the latest sensation, marking a significant upswing in the PC market following the post-pandemic slump. This extraordinary surge in the demand for advanced chips, fuelled by AI functionalities, has inadvertently spurred an increased requirement for cutting-edge chip fabrication equipment.

Applied Materials, a leading company based in Santa Clara, California, specializes in the development of advanced equipment for chip fabrication. With renowned customers such as Intel and Samsung, the company is a key player in the semiconductor industry.

For the coming second quarter, Applied Materials projects a substantial revenue of $6.5 billion, with a potential range of $6.1 billion to $6.9 billion. This estimate exceeds the average industry expectation of $5.92 billion, underscoring the company’s bullish outlook.

In addition to the robust revenue forecast, Applied Materials also expects an adjusted profit per share for the second quarter. This figure is projected to fall between $1.79 and $2.15, significantly surpassing analysts’ estimate of $1.79 per share. The positive forecast points to strong financial performance and underscores the company’s competitiveness in the market.

Applied Materials is renowned in the semiconductor industry for its leading technology and expertise in providing cutting-edge equipment for chip manufacturing. Headquartered in Santa Clara, California, the company serves leading industry players, including Intel and Samsung.