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Applied Materials forecasts third-quarter sales above estimates

May 20 (Reuters) - Applied Materials Inc forecast third-quarter sales above analysts’ estimates on Thursday, betting on sustained demand for its semiconductor manufacturing tools against the backdrop of a global chip shortage and efforts in several countries to subsidize chip factories.

The company expects current-quarter net sales of $5.92 billion, plus or minus $200 million, compared with estimates of $5.54 billion, according to IBES data from Refinitiv. (Reporting by Tiyashi Datta in Bengaluru; Editing by Shounak Dasgupta)

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