Applied Materials' stock jumps after earnings. The CEO just made a bold prediction for the chip sector.

Core Insights - Applied Materials anticipates over 20% growth in semiconductor-equipment revenue for the year, driven by the increasing demand from AI applications [1] - The overall chip industry sales are projected to reach $1 trillion, indicating a significant market expansion [1] Company Summary - Applied Materials is positioned to benefit from the growth in semiconductor equipment due to the rising influence of AI technologies [1] - The company's optimistic revenue forecast reflects confidence in the semiconductor market's resilience and growth potential [1] Industry Summary - The semiconductor industry is expected to experience a substantial increase in sales, with projections indicating a total market value of $1 trillion [1] - The growth in AI applications is a key factor contributing to the overall expansion of the chip industry [1]