Analog Devices' quarterly forecast tops estimates on AI-fueled chip demand

Aug 19 : Analog Devices forecast fourth-quarter revenue and profit above Wall Street estimates on Wednesday, betting on continued demand for its power-management chips used across data centers and industrial applications as AI investments ramp up.The company stands to benefit from surging investment in AI-driven computing, which has boosted demand for chips that regulate power and move vast amounts of data. Its components are widely used in data centers, factory automation equipment and modern vehicles.• The company reported third-quarter revenue of $4.02 billion, up 40 per cent from a year earlier and above analysts' estimates of $3.92 billion.• It reported adjusted earnings per share (EPS) of $3.45 for the quarter, beating estimates of $3.33. • CEO Vincent Roche said the company benefite