I deeply appreciate their partnership and teamwork as we navigate these unprecedented circumstances together. Like many in the industry, the primary challenge we face today is availability of certain silicon components.įor Applied, our issues are relatively narrow, and we are proactively collaborating with our suppliers and directly with the chip companies to find solutions and work around bottlenecks. Applied has made and continues to make strategic investments in our own global manufacturing infrastructure, so factory capacity is not a limiting factor for us. So let me start with the supply side of the equation. Later in the call, Bob will share his perspective on the state of the business and provide color on our financial performance. I'm also happy to welcome Bob back to the CFO seat while we conduct the search for our next CFO. I'll then talk about the progress we're making against our growth strategy and how Applied Materials is positioned to outperform the market over the coming years.
Next, I'll describe the demand outlook, which is very strong and broad-based. We expect supply chain headwinds to persist into fiscal 2022 and mitigating them remains our top priority.įor this reason, I'll begin today's call by providing some additional details about the industry's supply dynamics, both near term and longer term. Without these supply shortages, we estimate that our Q4 revenues would have been at least $300 million higher.
These constraints worsened in the last few weeks of the quarter as we experienced delayed shipments from several suppliers. In fiscal Q4, we hit the midpoint of our earnings guidance despite larger-than-expected supply chain constraints.
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