(Reuters) – Applied Materials Inc forecast second-quarter profit and revenue below analysts’ estimates on Thursday, sending the chip gear maker’s shares down 1.2 percent in extended trading.

The company expects second-quarter adjusted earnings between 62 and 70 cents per share and net sales in a range of $3.33 billion to $3.63 billion.

Analysts on average had expected the company to earn 76 cents per share and sales of $3.66 billion, according to IBES data from

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