:Applied Materials, which makes equipment to produce chips, said on Monday that its board has approved a new $10 billion share repurchase scheme, and also raised its quarterly dividend.
The newly approved buyback scheme adds to its previous authorization, which had $4.7 billion remaining at the end of the first quarter of fiscal 2023, the company said. The semiconductor industry has been facing a downturn in demand for chips used in personal computers and mobile devices, although, in a bright spot, demand from data center and automotive sectors has been steady.
Source: News Formal (newsformal.com)
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