Applied Materials, a leading chip equipment manufacturer, reported strong third-quarter results, exceeding revenue and earnings expectations. The company also raised its fourth-quarter revenue and earnings guidance, citing strong demand driven by the race for AI leadership. Analysts responded positively to the news, with several raising their price targets on the stock.
Applied Materials, a leading chip equipment company, reported strong third-quarter financial results, exceeding revenue and earnings expectations. The company’s CEO highlighted the role of AI in driving demand for its products and services. However, Q4 guidance fell short of analyst estimates, leading to a dip in share price after hours.
