Applied Materials’ Upcoming Q1 Earnings Preview
<p>Ahead of the release of its first-quarter earnings, analysts at Deutsche Bank have given their predictions regarding Applied Materials, Inc. <a href='https://financialmodelingprep.com/financial-summary/CHWY'>(NASDAQ:AMAT)</a>.</p>
<p>The analysts expect the quarterly results to be slightly ahead of guidance, as the company should have continued to benefit from easing supply conditions and solid backlog levels. However, commentary by semicap/sub-systems peers reflects sharp demand reductions across segments that the analysts believe are likely to exacerbate the company's revenue correction into the second half of the year.</p>
<p>Furthermore, the analysts expect the company to suggest backlog drawdown occurring faster vs. management's prior outlook of 2-4 quarters (to "normalized" levels of approximately $5 billion). The analysts lowered their 2023 EPS from $6.40 to $6.15 on the deeper revenue reset, but leave their 2024 EPS of $7.25 unchanged. </p>

NASDAQ:AMAT