Operator Welcome to the Applied Materials fourth quarter fiscal 2024 earnings conference call. During the prepared remarks, all participants will be in a listen-only mode. Afterwards, there will be a question-and-answer session.

Applied Materials (AMAT) just delivered strong fourth-quarter (Q4) results that beat Wall Street's expectations. However, the stock has come under pressure due to the company’s cautious guidance for the first quarter of fiscal 2025.

Applied Materials reported quarterly earnings of $2.32 per share, which beat the analyst consensus estimate of $2.19. Quarterly revenue clocked in at $7.05 billion, which beat the analyst consensus estimate of $6.95 billion and is an increase over sales of $6.72 billion from the same period last year.