Applied Materials, Inc. Website

Applied Materials, Inc.

NasdaqGS-AMAT

Company Overview

Applied Materials, Inc. provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits. This segment also offers various technologies, including epitaxy, ion implantation, oxidation/nitridation, rapid thermal processing, physical vapor deposition, chemical vapor deposition, chemical mechanical planarization, electrochemical deposition, atomic layer deposition, etching, and selective deposition and removal, as well as metrology and inspection tools. The Applied Global Services segment provides integrated solutions to optimize equipment and fab performance and productivity comprising spares, upgrades, services, remanufactured earlier generation equipment, and factory automation software for semiconductor, display, and other products. The Display and Adjacent Markets segment offers products for manufacturing liquid crystal displays; organic light-emitting diodes; and other display technologies for TVs, monitors, laptops, personal computers, electronic tablets, smart phones, and other consumer-oriented devices. The company operates in the United States, China, Korea, Taiwan, Japan, Southeast Asia, and Europe. Applied Materials, Inc. was incorporated in 1967 and is headquartered in Santa Clara, California.

  • Name

    Applied Materials, Inc.

  • CEO

    Gary E. Dickerson

  • Website

    www.appliedmaterials.com

  • Sector

    Semiconductors and Semiconductor Equipment

  • Year Founded

    1967

Company Statistics

Profile

  • Market Cap

    —

  • EV

    —

  • Shares Out

    —

  • Revenue

    —

  • Employees

    —

Margins

  • Gross

    —

  • EBITDA

    —

  • Operating

    —

  • Pre-Tax

    —

  • Net

    —

  • FCF

    —

Returns (5Yr Avg)

  • ROA

    —

  • ROTA

    —

  • ROE

    —

  • ROCE

    —

  • ROIC

    —

Valuation (TTM)

  • P/E

    —

  • P/B

    —

  • EV/Sales

    —

  • EV/EBITDA

    —

  • P/FCF

    —

  • EV/Gross Profit

    —

Valuation (NTM)

  • Price Target

    —

  • P/E

    —

  • PEG

    —

  • EV/Sales

    —

  • EV/EBITDA

    —

  • P/FCF

    —

Financial Health

  • Cash

    —

  • Net Debt

    —

  • Debt/Equity

    —

  • EBIT/Interest

    —

Growth (CAGR)

  • Rev 3Yr

    —

  • Rev 5Yr

    —

  • Rev 10Yr

    —

  • Dil EPS 3Yr

    —

  • Dil EPS 5Yr

    —

  • Dil EPS 10Yr

    —

  • Rev Fwd 2Yr

    —

  • EBITDA Fwd 2Yr

    —

  • EPS Fwd 2Yr

    —

  • EPS LT Growth Est

    —

Dividends

  • Yield

    —

  • Payout

    —

  • DPS

    —

  • DPS Growth 3Yr

    —

  • DPS Growth 5Yr

    —

  • DPS Growth 10Yr

    —

  • DPS Growth Fwd 2Yr

    —

Bulls Say

  • Applied Materials is the largest WFE provider in the world, with the broadest portfolio and the largest R&D budget of its peers.

  • We expect Applied Materials to benefit from drivers of chip complexity like gate-all-around transistors and advanced packaging.

  • Applied Materials has strong profit margins and cash flow and sends most of its cash flow back to shareholders.

Bears Say

  • We consider Applied Materials to be a generalist in WFE. More-specialized firms like Lam Research and KLA could outcompete it in their respective markets.

  • Applied Materials faces cyclicality in the semiconductor market that can lead to years with lower sales and margin compression.

  • Applied Materials faces risk from geopolitical tensions between the US and China that may further inhibit its ability to ship to Chinese chipmakers.

Source: Morningstar Analysis - Nov 14, 2025

What's happening

Nov 5, 2025 - Dec 5, 2025

Applied Materials Inc Surges Amid Strong Demand and Strategic Upgrades

  • AMAT shares reached an all-time high of $258.01 on December 2, driven by robust demand for manufacturing equipment.
  • UBS upgraded AMAT to Buy, raising the price target from $250 to $285 due to favorable projections in wafer fab equipment spending.
  • Despite some bearish sentiment following quarterly results, overall trends indicate strong fundamentals supporting AMAT's market position.

Over the past month, Applied Materials Inc (AMAT) experienced a significant increase of 16.7%, notably outperforming the S&P 500's return of 1.3%. This performance was fueled by positive investor sentiment and strategic developments within the company. On December 2, AMAT shares peaked at an all-time high of $258.01, marking a substantial rise over both four weeks and one year. The Chief Financial Officer highlighted strong demand for leading-edge manufacturing equipment expected in 2026, further enhancing investor confidence.

The upward momentum continued when UBS upgraded its rating on November 25 from Hold to Buy and raised its price target from $250 to $285 based on optimistic forecasts regarding wafer fab equipment spending over the next two years. Analysts project that memory spending will experience considerable growth, particularly concerning DRAM-related equipment. Additionally, discussions surrounding AI technology adoption emerged as key factors driving future demand in semiconductor manufacturing during this period.

However, there were instances of bearish sentiment that temporarily affected stock performance; after reporting fourth-quarter results on November 14 that revealed a revenue decline despite beating expectations, AMAT shares fell approximately 4% in after-hours trading. Concerns about trade restrictions impacting access to Chinese markets also contributed negatively to investor reactions.

Throughout this month-long review period, mixed analyst ratings surfaced alongside fluctuations in stock prices influenced by various market dynamics and insights shared at events like the UBS Global Technology and AI Conference held on December 2nd. Overall trends suggest strong underlying fundamentals supporting Applied Materials' position amid broader market conditions while demonstrating resilience against temporary setbacks.

In summary terms relative to sector performance metrics during this timeframe: Applied Materials Inc outperformed the Information Technology (XLK) sector by a substantial margin of 17.7%.

NasdaqGS:AMAT