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Recession Special Earnings at Applied Materials

in News on February 2, 2009 at 10:59 am PT

Given this morning’s morbid 2008 sales report from the Semiconductor Industry Association, the fact that chip equipment supplier Applied Materials lowered guidance for its first quarter is hardly surprising. Applied slashed its earnings forecast today, saying it expects sales for Q1 to suffer, thanks to the “deteriorating financial condition” of its customers.