(Reuters) -Chip-making equipment supplier ASM International (ASMI) forecast higher fourth-quarter guidance after third-quarter bookings beat expectations as AI continues to drive high-end orders.
The Dutch company now forecasts fourth-quarter sales in a range between 770 million euros and 810 million euros ($832.14 million to $875.37 million) resulting in a 15% increase for the second half of the year compared to the first half, while third-quarter bookings reached 815 million euros, beating estimates of 786 million euros, according to a company-compiled consensus.
“AI continues to be the dominant semiconductor end market driver, while recovery in other markets such as PCs and smartphones is still sluggish, and the automotive/industrial segments remain in a cyclical downturn,” the company said in a statement.
ASMI’s customers, the likes of chipmaker TSMC, use its equipment to enable the next generation of AI chips, and have seen a sustained boom in demand.
($1 = 0.9253 euros)
(Reporting by Nathan Vifflin; editing by David Evans)
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