Applied Materials, Inc. revised its fiscal year 2012 business outlook due to weaker than expected near-term demand in its semiconductor equipment business, primarily among foundry customers. For the fiscal year ending Oct. 28, 2012, the company expects net sales to be below the previous outlook of $9.1 billion to $9.5 billion, with non-GAAP earnings per share (EPS) below the previous range of $0.85 to $0.95. The company will provide a new target range during its Aug. 15 earnings call; however...