European markets are seeing increased demand for semiconductors and solar panel manufacturing equipment, despite an ongoing debt crisis in the region.
Applied Materials chief executive Mike Splinter told the Semicon West trade show in San Francisco on Tuesday (July 13th) that the use of panels is rising at an "unprecedented rate" and clamour from China is also boosting the sector.
He said: "This is the first time since 2007 we can actually have a smile on our face at Semicon West."
Bloomberg reports that the California-based company forecasted in May that sales will grow by more than 60 per cent during 2010, up from an earlier prediction of 50 per cent for the year.
In addition, estimates from the news provider suggest that sales will rise by five per cent in the third quarter of this year from the $2.3 billion (£1.5 billion) for the three months to the end of June.
As well as its solar solutions, Applied Materials also manufactures components for flat panels in consumer electronics.