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(Reuters) - Applied Materials Inc on Thursday forecast second-quarter revenue above market expectations, as demand for its semiconductor manufacturing tools picked up during a global shortage of semiconductors.
The chip-gear maker is beginning to benefit from the coronavirus-induced surge in the sales of PCs, gaming consoles and other devices used to work and play from home.
The company expects fiscal second-quarter revenue of $5.39 billion, plus or minus $200 million, which would exceed above analysts’ expectations of $4.96 billion. The forecast calls for adjusted profits to be $1.44 to $1.56 per share, above estimates of $1.28.
Shares were up 4.7% in extended trading after the results. ....

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