Applied Materials (AMAT)
Applied Materials (AMAT) is the largest maker of wafer-fabrication equipment, selling the deposition, etch, CMP, ion-implant, metrology, and packaging tools nearly every chipmaker needs. That breadth lets it capture wafer-fab-equipment demand across the industry. Fiscal Q2 2026 revenue rose 11% to a record $7.91 billion, and it guided fiscal Q3 to about $8.95 billion.
| Ticker | AMAT |
|---|---|
| Exchange | NASDAQ |
| Sector | Information Technology · Semiconductor Equipment (Materials Engineering) |
| Country | United States |
| Wikidata | Q621610 |
| Last updated | 2026-07-05 |
Next event: Next earnings · fiscal Q3 2026 , estimated · Calendar-estimated: Applied reports fiscal Q3 in mid-August (fiscal Q3 ends late July); not company-confirmed as of the May 14, 2026 release. Confirm on ir.appliedmaterials.com. (source)
Latest reported quarter: Fiscal Q2 2026 (ended Apr 26, 2026) (reported 2026-05-14)
Applied Materials reported record fiscal Q2 2026 revenue of $7.91 billion, up 11% year over year, with GAAP diluted EPS of $3.51 and non-GAAP EPS of $2.86 at a 50% non-GAAP gross margin. Semiconductor Systems was $5.97 billion, split 67% foundry/logic, 29% DRAM, and 4% flash. The company guided fiscal Q3 revenue to about $8.95 billion.
| Revenue (Q2 FY2026) | $7.91B +11% YoY · Record; Semiconductor Systems $5.97B |
|---|---|
| Non-GAAP EPS | $2.86 +20% YoY · GAAP $3.51 (+33%) |
| Non-GAAP gross margin | 50.0% · GAAP 49.9% |
| China share of revenue | 27% · $2,087M; Taiwan ~27%, Korea 20% |
Revenue by segment
| Semiconductor Systems | $5,965M · 75.4% of revenue +10% YoY |
|---|---|
| Applied Global Services | $1,665M · 21.1% of revenue +17% YoY |
| Other (incl. Display) | $280M · 3.5% of revenue |
Guidance: Fiscal Q3 2026
| Revenue | $8.95B ± $500M |
|---|---|
| Non-GAAP diluted EPS | $3.36 ± $0.20 |
Outlook given with the fiscal Q2 2026 results on May 14, 2026.
Recent & upcoming events
- · Record fiscal Q2 2026; guides Q3 to ~$8.95B. Revenue of $7.91 billion (up 11%) with Semiconductor Systems at $5.97 billion; CEO Gary Dickerson said Applied expects its semiconductor equipment business to grow more than 30% in calendar 2026. (source)
- · $253M export-controls settlement with US Commerce. Applied disclosed a $253 million settlement with the US Bureau of Industry and Security to resolve an inquiry into certain China customer shipments and export-controls compliance, including a suspended denial order and mandated compliance audits. (source)
Fiscal Q2 2026 figures are from Applied's SEC 8-K Exhibit 99.1 (quarter ended April 26, 2026); its fiscal year ends in late October. Display is reported within Other since fiscal Q1 2026. Segment shares are calculated from reported revenue.
Figures are as of 2026-07-05 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does Applied Materials do?
Applied is the materials-engineering company of chipmaking: it sells the machines that add, remove, shape, and analyze the ultra-thin films a chip is built from. Its tools do deposition, etch, chemical mechanical planarization, ion implantation, metrology and inspection, and wafer-level packaging, so almost every fab in the world runs Applied equipment somewhere on the line. The business reports in two segments plus a residual: Semiconductor Systems, the capital equipment, was $5.97 billion in fiscal Q2 2026; Applied Global Services, which sells spares, upgrades, and factory-optimization software on the installed base, was $1.67 billion; and Display and adjacent markets now sit inside a $280 million “Other” line (Applied 8-K, May 14, 2026). Within systems, revenue split 67% foundry and logic, 29% DRAM, and 4% flash.
How is AI driving Applied’s business?
Because the AI build-out is, at bottom, a fab build-out. Every AI accelerator, every HBM stack, and every leading-edge logic wafer is made on equipment, and Applied’s broad tool set lets it benefit from advanced logic, DRAM, and advanced packaging at once. Revenue rose 11% year over year to a record $7.91 billion, and management is explicit about the trajectory (Applied 8-K, May 14, 2026). President and CEO Gary Dickerson tied the quarter to the AI cycle:
“Applied Materials delivered record quarterly performance, and we now expect our semiconductor equipment business to grow more than 30 percent in calendar 2026. The rapid global build-out of AI computing infrastructure combined with Applied’s strong leadership positions in leading-edge logic, DRAM and advanced packaging provide an exceptionally strong foundation for sustained, multi-year revenue and profit growth.”
— Gary Dickerson, President and CEO, Applied Materials (Applied 8-K, May 14, 2026)
What did Applied report most recently?
In fiscal Q2 2026 (the quarter ended April 26, 2026), revenue was a record $7.91 billion, up 11% year over year, with GAAP diluted EPS of $3.51 (up 33%) and non-GAAP EPS of $2.86 (up 20%) (Applied 8-K, May 14, 2026). The GAAP gross margin was 49.9% and the non-GAAP gross margin 50.0%. China was 27% of revenue at $2,087 million, with Taiwan and Korea the other large regions. In the same quarter Applied recorded a $253 million settlement with the US Bureau of Industry and Security to resolve an inquiry into certain China customer shipments and export-controls compliance (Applied 10-Q, May 21, 2026).
What is Applied’s guidance?
For fiscal Q3 2026, Applied guided revenue to about $8.95 billion plus or minus $500 million and non-GAAP diluted EPS of $3.36 plus or minus $0.20 (Applied 8-K, May 14, 2026). Behind that guide is management’s expectation that its semiconductor equipment business grows more than 30% in calendar 2026.
What are the risks for Applied?
- China and export controls. China was 27% of fiscal Q2 2026 revenue, and evolving US export rules constrain what Applied can ship there; the $253 million BIS settlement in the same quarter shows the compliance exposure is live.
- Equipment cyclicality. Revenue tracks the highly cyclical semiconductor-equipment capex cycle, and a downturn in customer capital spending would cut demand quickly.
- Customer and geographic concentration. A few large chipmakers in a few regions drive most sales, so reduced spending by a major customer would hit results.
Related securities, concepts & terms
Applied is the broadest equipment layer of the silicon supply chain concept, alongside etch-and-deposition peer Lam Research, Tokyo Electron, process-control leader KLA, and lithography leader ASML.
- Silicon Supply Chain parent
- Lam Research (LRCX) sibling
- Tokyo Electron (8035) sibling
- KLA Corporation (KLAC) sibling
- ASML Holding (ASML) related
- Wafer-Fab Equipment (WFE) related
Frequently asked questions about Applied Materials
What does Applied Materials do?
Applied Materials is the largest supplier of wafer-fabrication equipment, selling the materials-engineering tools that build chips: deposition, etch, chemical mechanical planarization, ion implantation, metrology, and wafer packaging. Its Semiconductor Systems segment was $5.97 billion of fiscal Q2 2026 revenue, with Applied Global Services adding $1.67 billion of spares and software (Applied 8-K, May 14, 2026).
What was Applied's latest quarterly revenue?
Fiscal Q2 2026 revenue (quarter ended April 26, 2026) was a record $7.91 billion, up 11% year over year, with GAAP diluted EPS of $3.51, non-GAAP EPS of $2.86, and a 50% non-GAAP gross margin (Applied 8-K, May 14, 2026). Semiconductor Systems revenue split 67% foundry and logic, 29% DRAM, and 4% flash.
What is Applied's guidance?
For fiscal Q3 2026, Applied guided revenue to about $8.95 billion plus or minus $500 million and non-GAAP diluted EPS of $3.36 plus or minus $0.20 (Applied 8-K, May 14, 2026). CEO Gary Dickerson said Applied expects its semiconductor equipment business to grow more than 30% in calendar 2026.
When does Applied report its next earnings?
Applied is expected to report fiscal Q3 2026 results in mid-August 2026, calendar-estimated from prior years and not yet company-confirmed, so check its investor-relations site (Applied IR). It last reported fiscal Q2 2026 on May 14, 2026.
Why is Applied part of the silicon supply chain concept?
Because it is the broadest picks-and-shovels supplier of chipmaking. Applied sells the deposition, etch, CMP, ion-implant, metrology, and packaging tools that virtually every fab needs, so it captures wafer-fab-equipment demand regardless of which chipmaker wins, with heavy exposure to leading-edge logic, DRAM, and advanced packaging (Applied 8-K, May 14, 2026).
Sources & references
- Applied Materials Announces Second Quarter 2026 Results (SEC 8-K, Exhibit 99.1) · Applied Materials, Inc. / SEC EDGAR, 2026-05-14
- Applied Materials, Inc. Form 10-Q (quarter ended April 26, 2026) · Applied Materials, Inc. / SEC EDGAR, 2026-05-21
- Applied Materials · Investor Relations · Applied Materials, Inc., 2026-07-05