Applied Materials Trades More Than 25% Below Its High With Revenue at a Record
Key PointsApplied Materials reported record fiscal third-quarter revenue of $9.1 billion, up 25% year over year.
Applied Materials (NASDAQ: AMAT) closed Thursday's fiscal third-quarter report 28% below its 52-week high of $739.67, trading at $534.54. The company reported record revenue of $9.1 billion, a 25% increase year-over-year. Non-GAAP earnings per share reached a record $3.50, up 41% from the previous quarter. Operating income and cash flow also set new records, with the latter exceeding $3 billion.
Management guided fiscal fourth-quarter revenue to $10.25 billion, with a potential range of plus or minus $500 million, representing a 51% year-over-year growth. The stock fell about 5% in after-hours trading despite the strong performance. Management expects 51% year-over-year growth in fiscal Q3 and 25% growth in Q4, with non-GAAP earnings per share anticipated to reach $4.02, an 85% increase.
The demand behind these numbers is driven by artificial intelligence (AI) build-out, with leading-edge chipmaking, DRAM, and advanced packaging accounting for about 80% of the growth in the wafer fab equipment market in 2026 and 2027.
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