Applied Materials’ new corporate signage photo in Santa Clara, California, U.S. is shown in this image released on August 22, 2016. Courtesy Applied Materials/Handout via REUTERS
(Reuters) - Applied Materials Inc forecast third-quarter sales above analysts' estimates on Thursday, betting on sustained demand for its semiconductor manufacturing tools against the backdrop of a global chip shortage and efforts in several countries to subsidize chip factories.
The company's shares rose 1.5% in extended trading.
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