Applied Materials Exceeds Q1 Revenue Estimates

Applied Materials, a semiconductor equipment supplier, has forecasted second-quarter revenue above Wall Street estimates, benefiting from the recovery in the personal computer market and the boom in artificial intelligence. The company expects revenue of $6.5 billion, plus or minus $400 million, compared to analysts' average estimate of $5.92 billion, and also forecasted adjusted profit per share of $1.79 to $2.15, above estimates of $1.79 per share.