Applied Materials, the biggest U.S. chip-equipment maker, is a key player in the AI and broader semiconductor space.

Applied Materials gave a slightly disappointing outlook, driving its shares lower in after-hours trading Thursday. The chip equipment maker reported adjusted earnings of $2.32 a share for the October quarter,

Applied Materials (AMAT) stock is falling, after the semiconductor firm's upbeat fourth-quarter results were overshadowed by a gloomy outlook

Applied Materials reported quarterly earnings of $2.32 per share, which beat the analyst consensus estimate of $2.19. Quarterly revenue clocked in at $7.05 billion, which beat the analyst consensus estimate of $6.95 billion and is an increase over sales of $6.72 billion from the same period last year.

Applied Materials (AMAT) reported fiscal fourth-quarter earnings that missed analysts’ expectations, sending shares lower after the bell Thursday despite a revenue beat. The semiconductor equipment maker saw revenue grow 5% year-over-year to $7.

Applied Materials Inc. posted higher than anticipated earnings and revenue thanks to increased demand for artificial intelligence chips and electronic devices, but its stock fell as company officials issued a mixed outlook for the current quarter.