Solid Quarterly Results Once Again Overshadowed by Soft Guidance for Applied Materials
Consistent with expectations, Applied Materials reported strong third-quarter results, led by year-over-year growth across all major segments. Nevertheless, a near-term slowdown in equipment spending led to lower guidance than expected, an issue that also plagued peer Lam Research. Specifically, the push-out in equipment purchases in NAND and foundry segments led to the shortfall. Management had previously forecast a bounceback in semiconductor system sales in the fiscal fourth quarter, but it b...Applied Materials provides manufacturing equipment, services and software to the semiconductor, display and related industries. The company's segments are: Semiconductor Systems, which develops, manufactures and sells a range of manufacturing equipment used to fabricate semiconductor chips; Applied Global Services, which provides integrated solutions to support equipment and fab performance and productivity; and Display and Adjacent Markets, which is comprised of products for manufacturing liquid crystal displays, organic light-emitting diodes and other display technologies for TVs, monitors, laptops, personal computers, electronic tablets, smart phones, and other consumer-oriented devices.
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