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Applied Materials’ stock climbs as company logs earnings beat, sees AI momentum

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Applied Materials Inc. delivered upbeat results and guidance Thursday afternoon, and its stock surged in the extended session.

The chip-equipment company logged fiscal-first quarter net income of $2.02 billion, or $2.41 a share, compared with $1.72 billion, or $2.02 a share, in the year-prior quarter.

On an adjusted basis, Applied Materials…

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