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00:02Applied Materials expects global cloud capital spending to surge more than 50% in 2027,
00:09exceeding $1 trillion, as artificial intelligence drives demand for advanced chips and semiconductor
00:15manufacturing equipment. According to Benzinga, the company reported fourth quarter adjusted
00:20earnings of $4.16 per share, beating estimates of $4.05. Revenue reached $10.41 billion,
00:30above expectations of $10.30 billion. Applied Materials forecasts first quarter revenue of
00:37$11.1 billion, topping estimates of $10.89 billion. The company expects the wafer fabrication
00:45equipment market to grow more than 30% in 2027. Management said customers are requesting faster
00:51production and earlier equipment deliveries as demand outpaces supply. Applied Materials also
00:57expects continued market share gains and stronger margins. Shares were down 0.09% at $380.59
01:06during pre-market trading on Friday, according to Benzinga Pro data.
01:10For all things money, visit Benzinga.com.
