Applied Materials (AMAT) CEO Splinter Says Foundry Demand to Rebound in FY13

Applied Materials (Nasdaq: AMAT) is moving higher on the session following comments from CEO Mike Splinter during a recent event.

According to Digitimes, Splinter said that foundry companies will remain an key factor in semiconductor market growth and see upside as demand for smartphones, tablets, and ultrabooks continues to be high.

Major clients for Applied include such chipmakers as Taiwan Semi (NYSE: TSM), Globalfoundries, and Samsung Electronics.

It wasn't made clear by Digitimes where Splinter's comments were made.

Applied recently reduced fourth-quarter expectations as well as for the fiscal 2012 reporting year, citing, "weaker-than-expected near-term demand in its semiconductor equipment business, primarily among foundry customers.' However, during the company's latest conference call, Splinter echoed sentiment that foundry demand would rebound in 2012.

Shares of Applied are up about 0.8 percent Friday.

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