Applied Materials Sees Bounce After Hitting Bottom

Applied Materials Inc., long whipsawed by the chip industry’s business cycles, reported a 71 percent drop in first-quarter profit but pointed to signs of a rebound.

The company, a major supplier of machines used to make semiconductors, on Wednesday said its orders in the fiscal quarter for such tools rose more 80 percent from the fourth period. Applied also projected revenues in the current quarter will rise 15 percent to 25 percent from the first.

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