Applied Materials shares jump after guidance tops expectations
Applied Materials forecast current-quarter revenue and profit far above analysts' estimates as the company benefits from demand for newer technology to make displays and smartphone memory chips.

Shares of the world's largest supplier of tools used to make semiconductors rose 5.7 percent to $29.25 in after-hours trading on Thursday. On Friday, the stock hit a 15-year high in intraday trading and ended the day about 7 percent higher.

The rising popularity of mobile devices has fueled demand and investments in 3D NAND memory chips, which can store data without using up power.

"We are in the best position as the market goes forward in ramping 3D NAND," Chief Executive Gary Dickerson said in an interview.

Orders in its semiconductor systems business, Applied Materials's biggest, rose 10.4 percent in the third quarter ended July 31.