Applied Materials Raises FY 2010 Sales Growth Forecast

Applied Materials (AMAT) this afternoon said it now sees sales for its fiscal year ending October up at least 60% from FY 2009, an upward revision from its previous forecast for growth of at least 50%.

Here’s the new forecast by market segment:

• Silicon: Now seen up at least 120%, versus 100% previously.
• Applied Global Services: Now seen up at least 35%, versus 30% previously.
• Display: Now see up at least 50%, versus 30% previously.
• Energy and Environmental: Now see up at least 5%, versus flat previously.

CEO Mike Splinter said in a statement that the company sees “the early stages of a multi-year growth cycle in many of our served markets.”

AMAT is now up 21 cents, or 1.6%, to $13.52.

Update: Bloomberg reports that the company sees 2010 EPS of 68-78 cents, above the Street at 70 cents.