Applied Materials Exceeds Fourth-Quarter Fiscal Targets on Strong Chip Gear Sales

Applied Materials (AMAT) on Thursday evening exceeded Wall Street targets for its fiscal fourth quarter and its outlook for the current period. AMAT shares are trading sideways in extended trading. The semiconductor equipment giant earned an adjusted $4.16 per share on revenue of $10.41 billion in the quarter ended Oct. 25. Analysts polled by FactSet expected earnings of $4.06 per share.