April 10 (Reuters) - British chip components maker IQE

on Wednesday forecast its fiscal 2024 results to come

within market expectations, supported by an improving order book

amid a rapid development and popularity of the artificial

intelligence (AI) industry.

IQE makes "epi-wafers", a type of advanced material used in

products from laser hair removal to facial recognition sensors

in Apple's ( AAPL ) iPhones.

In a bid to capitalize on the AI frenzy, which has

gripped the semiconductor industry, IQE has been investing in

solutions to enable more efficient transfer of data in data

centres.

The company swung to a profit in the second half of 2023

from the first half as the supply glut began to wane and

customer demand picked up.

"We expect to see this improvement continue through 2024

despite persisting uncertainties in the global economy," IQE

said.

Analysts expect IQE's revenue for the year through Dec.

31, 2024 to be in the range of 133.7 million pounds ($169.53

million) to 153.7 million pounds and an adjusted core profit of

between 11.1 million pounds and 16.6 million pounds, according

to a company-supplied consensus.

($1 = 0.7886 pounds)