From fnno.com this is the Financial News Network, here with more news of yet another company cutting their earnings forecast. Applied Materials announced their projected 85 to 95 cents per share prediction may fall 15 to 20 cents due to weak demand from customers. Analysts had been expecting earnings to come in around 94 cents a share.Investors often look to companies like Applied Materials to determine how the semiconductor manufacturing market is fairing as well as seeing it as an indicator for global microchip demand. With this forecast cut, it could mean slower spending in the industry, something that will most likely bring stocks down in the coming months. Analysts weren’t completely surprised by the company’s announcement though. It could be due to the Eurozone debt crisis and declining sales in personal computers.Other companies in the industry cutting their forecasts also include Advanced Micro Devices, Qlik Technologies, and Informatica Corp.For more on this and other financial stories, follow us on Twitter @FNNOnline, or check out our website at fnno.com. I’m Laura Hankin.
