UPDATE 1-Applied Materials forecasts quarterly revenue above estimates
(Adds background in paragraph 2,3, profit detail in paragraph 5)
Feb 15 (Reuters) - Semiconductor equipment supplier Applied Materials forecast second-quarter revenue above Wall Street estimates on Thursday, as it benefits from a recovery in the personal computer market and an artificial intelligence boom.
AI-embedded personal computers are the latest rage, pulling the PC market out of a post-pandemic slump and leading to increased demand for more advanced chips and by extension, for chip making equipment too.
Applied Materials makes equipment that helps fabricate chips and counts Intel and Samsung among its customers.
The Santa Clara, California-based company expects second-quarter revenue of $6.5 billion, plus or minus $400 million, compared with analysts' average estimate of $5.92 billion, according to LSEG data.
Applied Materials also forecast adjusted profit per share of $1.79 to $2.15, above estimates of $1.79 per share. (Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli)
