Applied Materials' AI Boom

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