Applied Materials Inc

Applied Materials closed the most recent trading day at $540.04, up 2.03% and ahead of the S&P 500's 0.73% gain, while the Dow added 0.49% and the Nasdaq gained 1.19%. The chipmaking equipment maker is scheduled to release its earnings on November 12, 2026, with analysts projecting earnings of $4.06 per share, representing year-over-year growth of 87.1%, and revenue of $10.3 billion, a 51.4% escalation from the year-ago quarter. For the entire fiscal year, the Zacks Consensus Estimates project earnings of $12.79 per share and revenue of $34.25 billion, representing changes of +35.77% and +20.72%, respectively, from the prior year. Over the past month, the Zacks Consensus EPS estimate has risen 0.16%, and Applied Materials currently carries a Zacks Rank of #2 (Buy). The stock trades at a Forward P/E ratio of 41.39, a premium to its industry's average Forward P/E of 39.71, with a PEG ratio of 1.47 versus an industry average of 1.35.

Applied Materials expanded its partnership with BE Semiconductor Industries, also known as Besi, to develop advanced packaging technologies for artificial intelligence infrastructure, sending its shares up 2.5% in the afternoon session. Under the agreement, Besi joined the company's EPIC Center as an Innovation Partner, with the collaboration focused on next-generation 3D integrated circuit scaling, logic and memory integration, photonics, and interconnect architectures. The expanded partnership builds beyond hybrid bonding to develop new interconnect architectures that support artificial intelligence scaling requirements. After the initial pop, the shares cooled down to $522.95, up 2.3% from the previous close. Applied Materials is up 94.5% since the beginning of the year, but at $522.95 per share it is still trading 27.7% below its 52-week high of $723 from June 2026.

BofA semiconductor analyst Vivek Arya raised his estimate for the AI data center systems addressable market to $2.2 trillion at a 40% annual pace for CY26-30, up from a prior $1.8 trillion at 33%. Arya said the virtuous flywheel of agentic tool adoption by consumers and enterprises, competition between public and private AI labs, and limited chip supply will likely keep AI spending robust for the next several years, adding that any pacing or addition of safety guardrails to frontier models is likely to increase rather than reduce compute requirements. He named Nvidia, Intel, Micron, Marvell and Lam Research as top picks with near-term catalysts, citing enhanced buybacks and multiple GTC tradeshow events for Nvidia, agentic CPU strength and foundry win anticipation for Intel, the start of buybacks from December 9 for Micron, an Analyst Day on October 6 and an XPU ramp for Marvell, and share gain potential across memory and logic for Lam Research. Arya said he also continues to like AMD, Applied Materials, Analog Devices and On Semiconductor, and is staying watchful on Broadcom, which he rates Buy on compelling valuation with potential for enhanced buybacks when the company reports fiscal fourth-quarter results in December. He noted that the SOX is trading at a 21x forward PE, 12% below its 24x median multiple since the onset of ChatGPT and well below 40%-plus projected EPS growth potential, and that the fourth and first calendar quarters have historically been the two best seasonal quarters to own chip stocks, with 300-500 basis points of median outperformance versus the S&P 500 from 2010 to 2025.

Applied Materials has entered a major R&D partnership with KIOXIA focused on next generation memory for AI workloads, based at Applied Materials' new US$5b EPIC Center. The collaboration targets memory cell structures, multi chip stacking and advanced packaging, with both companies working to improve manufacturability and density of future memory technologies tailored for AI focused chip architectures. The EPIC Center alliance with KIOXIA is only one piece of what is changing around Applied Materials' AI memory ambitions. Applied Materials builds the tools, software, and services that chipmakers use to manufacture semiconductors at scale, and the KIOXIA partnership plugs directly into its role supplying core production gear for memory and AI focused devices across the US, Asia, and Europe. A key data point to monitor is how quickly EPIC Center projects with KIOXIA convert into production tools and service contracts once the facility becomes operational this year.

KLA Corporation's backlog climbed to $12.57 billion at the end of fiscal 2026 from $7.86 billion a year earlier, driven primarily by demand tied to the AI infrastructure buildout. In the fourth quarter of fiscal 2026, the company raised its calendar 2026 wafer fabrication equipment market expectation, including advanced packaging, to the low-$150-billion range, up from its earlier view of more than $140 billion and compared with roughly $120 billion in calendar 2025. KLA expects second-half calendar 2026 revenues to increase roughly 20% from the first half as additional supply becomes available, and it forecasts advanced-packaging process-control systems revenues of approximately $1.1 billion in calendar 2026, up more than 70% year over year. Rivals are expanding too: Applied Materials expects its process diagnostics and control business to grow more than 50% in 2026, while ASML Holding expects full-year 2026 advanced foundry and logic revenues to rise about 25%, memory revenues to increase 75% and EUV revenues to grow roughly 45%. KLA shares have risen 55.7% year to date, and the Zacks Consensus Estimate for its earnings stands at $1.18 per share, unchanged over the past 30 days and implying 34.09% year-over-year growth.

Wall Street analysts' mean price target of $651 on Applied Materials implies 34.2% upside from the stock's last close of $485, according to Zacks Investment Research. The consensus is built from 33 short-term price targets, ranging from a low of $478.00 to a high of $900.00, with a standard deviation of $95.43; the lowest estimate implies a 1.4% decline while the most optimistic points to 85.6% upside. Over the past 30 days, two estimates for the current year have moved higher against no negative revisions, lifting the Zacks Consensus Estimate by 0.4%. Applied Materials currently carries a Zacks Rank #2 (Buy), which places it in the top 20% of more than 4,000 stocks ranked on earnings-estimate factors. The article cautions that price targets are often overly optimistic and should be treated with skepticism, but argues that the direction of earnings estimate revisions offers a more reliable guide to near-term upside.

Onto Innovation has raised its full-year 2026 advanced packaging growth outlook to at least 80% from more than 50% previously, citing strong demand for its Dragonfly G5 inspection platform. The company generated $343.1 million of quarterly revenue, up 35.3% year over year, while its inspection business, dominated by Dragonfly systems, grew approximately 30% sequentially on demand from 2.5D logic and HBM applications. Onto launched Dragonfly G5 in March 2026 and disclosed in April that the platform had been qualified for 2.5D AI packaging applications, with demand strongest among HBM manufacturers and AI-focused OSATs, including more than $200 million in Dragonfly orders from a single OSAT, most slated for 2027. Management said demand for the Dragonfly platform is expected to grow more than 50% in 2026 from 2025 and expects further growth in 2027 with no signs of customer overcapacity. Competitors are also benefiting from the same AI-driven spending: KLA now expects 2026 wafer fabrication equipment spending in the low-$150 billion range, up from $135-$140 billion, and Applied Materials expects advanced packaging revenue to grow more than 70% in 2026, up from its prior outlook of more than 50%.

Applied Materials has committed US$5b to India over the next decade, anchored by a 140 acre semiconductor research park. The announcement comes as the company's share price has climbed 76.39% year to date, with a 1 year total shareholder return of 138.91%, though the 90 day share price return is down 24.34%. Applied Materials closed at $474.25, while the most followed narrative framework places fair value at $627.66, implying the stock is 24% undervalued, and a separate discounted cash flow model estimates future cash flow value at $277.49. The company's broad portfolio and investments in local manufacturing infrastructure, including new Arizona and EPIC centers, position it to capture a greater share of global wafer fab buildouts, with over 100 new fabs or expansions tracked this year. Risks include reliance on China and a concentrated group of large chipmakers, where export restrictions or delayed fab projects could undermine the upbeat narrative.

Applied Materials plans to invest $5 billion in India over the next decade, expanding its research, supply-chain, and workforce capabilities as India tries to establish itself as a major semiconductor manufacturing hub. The announcement came at SEMICON India, where more than 600 companies from 52 countries participated, and follows India's commitment of more than $21 billion in semiconductor incentives, with domestic semiconductor consumption expected to reach $110 billion by 2030. India has already approved 12 semiconductor projects under its incentive program, though Reuters reported that India still has no large-scale chip fabrication facility in commercial production and that Tata Electronics' planned $10 billion fab in Gujarat has been delayed by nearly two years. The investment fits Applied's current growth cycle: in fiscal Q3 2026, revenue reached a record $9.12 billion, up 25% year over year, while gross margin rose to 50.3 percent and operating income increased to $3.08 billion, with record operating cash flow of $3.04 billion. Applied also faces geopolitical exposure, having paid $253 million in 2026 to settle a U.S. Commerce Department inquiry involving certain China shipments, and its fourth-quarter revenue forecast of $10.25 billion came with a roughly 50.4 percent margin outlook amid increasing competition.

ASML Holding N.V. is riding strong momentum in its Installed Base Management business, which generated 2.8 billion euros in sales in the second quarter, up 31.8% year over year and about €300 million above management's expectations. The business benefits from the large and expanding fleet of ASML systems already operating at semiconductor manufacturers, and continued expansion of the EUV installed base is increasing the company's overall service opportunity. Demand is being driven not only by fleet expansion but also by software-led upgrades that improve productivity without significant machine time or production disruption. ASML expects to ship about 65 Low-NA EUV systems in 2026, with EUV revenue projected to rise roughly 45%, and management expects the combination of upgrade and service revenue to drive more than 30% growth in Installed Base Management sales in 2026. Sustaining that pace will depend on continued semiconductor investment and customer demand. Elsewhere in the semiconductor space, Monolithic Power Systems is gaining content across AI infrastructure and has extended its capacity goal beyond $6 billion, while Applied Materials delivered a record third quarter on the rapid global build-out of AI infrastructure.

Bank of America forecasts the global semiconductor market will nearly double to $3.2 trillion by 2030 from $1.7 trillion in 2026, citing AI infrastructure, memory and data-center demand that remains far stronger than recent fears suggest. Analysts led by Vivek Arya wrote that despite rising concerns about a potential AI infrastructure and investment slowdown, they see no signs of slowing in customer orders, long-term agreements, capacity commitments or semiconductor pricing. The bank pointed to Nvidia B200 rental pricing at $5.72 per hour, up consistently over the past two months and less than 10% below its March peak of roughly $6.10, while AMD has also indicated it is not seeing weakening customer orders. Within the total, memory is expected to remain the biggest growth engine, with sales rising to $1.8 trillion by 2030 from $937 billion in 2026, core semiconductors projected to increase to $1.35 trillion from $739 billion, server-related sales jumping to $848 billion from $359 billion, and wafer-fabrication-equipment spending more than doubling to $359.8 billion from $155.9 billion. BofA sees Nvidia and AMD as resilient compute plays, Marvell in networking, and Analog Devices and onsemi in analog, while Micron, Lam Research, Applied Materials and Intel could also outperform if sector momentum improves; the key risk is whether hyperscalers eventually slow AI capital spending.

Applied Materials' Applied Global Services business posted record revenue of $1.78 billion in the third quarter of fiscal 2026, up 22% year over year, with operating margin improving 280 basis points. Management said customers are bringing new fabs online while optimizing existing facilities, and more than 37,000 chambers are now connected to Applied Materials' AIx software for AI-powered monitoring, diagnostics and predictive analytics. The company added more than 1,500 manufacturing and AGS support employees in the quarter and plans to double quarterly system output from current levels by 2028, with further capacity additions through 2030. Customers are providing longer-term forecasts that support AGS revenue growth of more than 20% in 2026 and a sustainable mid-teens annual rate over the longer term, and Applied Materials expects AGS revenue of approximately $1.84 billion in the fourth quarter of fiscal 2026. Applied Materials expects non-GAAP earnings of $4.02 per share, plus or minus 20 cents, for 85% year-over-year growth at the midpoint, while the Zacks Consensus Estimate points to 86.6% growth.

Applied Materials is guiding toward its first-ever $10 billion revenue quarter, with management setting a midpoint of $10.25 billion, plus or minus $500 million, for its fiscal fourth quarter of 2026, which runs through late October. That midpoint sits about 51% above the year-ago period, when fiscal fourth-quarter revenue fell 3% to $6.80 billion. The guidance range bottoms out at $9.75 billion, so management's own forecast leaves room to fall short of the milestone. The company's fiscal third quarter, ended July 26, was itself record-setting, with revenue rising 25% year over year to $9.12 billion and non-GAAP earnings per share reaching a record $3.50, up 41%. Management has beaten its own guidance all year, and CEO Gary Dickerson said in the fiscal third-quarter earnings release that based on increased demand visibility from customers, the company expects another strong growth year in 2027. Applied guided fourth-quarter adjusted earnings per share to $4.02, plus or minus $0.20, up about 85% from the year-ago quarter's $2.17, and shares trade around $462, down about 38% from their 52-week high of $739.67.

Jim Cramer told a Mad Money caller on September 9 that he would go beyond holding Applied Materials and make it a long-term buy, citing CEO Gary Dickerson's interview with David Faber that day. Speaking at the Goldman Sachs Communacopia + Technology Conference on September 9, Dickerson said Applied's semiconductor equipment business was approaching 40% revenue growth in 2026, up from forecasts of more than 20% in February and more than 30% in May, driven largely by AI and data-center demand, with agentic AI identified as a major 2026 driver. Dickerson said the company has an eight-quarter rolling forecast and customer commitments extending through 2030, and that growth in 2027 would be strong and growth beyond 2027 very strong, though he gave no specific 2027 figure. Applied Materials' fiscal third-quarter revenue rose 25% year over year to a record $9.12 billion, while GAAP EPS increased 43% to $3.17. The stock closed at $468.85 on September 9, a 26.25 forward P/E, with China at $2.506 billion, or 28% of fiscal third-quarter revenue, down from 35% a year earlier, and the company recorded a $253 million charge tied to a settlement with the U.S. Commerce Department's Bureau of Industry and Security over export-controls compliance. Hedge fund holders of Applied Materials numbered 137 in the second quarter versus 138 in the first, and short interest stood at approximately 1.5% of the float.

Applied Materials reported quarterly revenues of $9.12 billion, up 24.8% year on year, exceeding analysts' expectations by 0.9%, as the 14 semiconductor manufacturing stocks tracked by the report delivered a very strong Q2 in which group revenues beat consensus estimates by 3.5% and next quarter's revenue guidance came in 6.5% above. President and CEO Gary Dickerson called it another record-breaking quarter with the highest sequential revenue growth in the company's history, citing significant improvement in inventory levels and next-quarter revenue guidance above analysts' expectations, though the stock is down 15.3% since reporting and trades at $453.00. Among peers, Kulicke and Soffa posted the group's fastest growth with revenues of $330.4 million, up 123% year on year and 5.7% above expectations, yet its stock is down 11.7% at $82.90, while KLA Corporation, the weakest of the group, reported revenues of $3.66 billion, up 15.2% and 1.3% above expectations, with its stock down 7.3% at $176.86. FormFactor reported revenues of $258.2 million, up 31.9% and 7.6% above expectations, with its stock up 34.7% at $112.38, and Lam Research reported revenues of $6.72 billion, up 30% year on year, meeting expectations, with its stock up 17.8% at $297.23.

Applied Materials has been drawing heavy investor attention after Zacks Investment Research assigned the chipmaking equipment maker a Zacks Rank #2 (Buy), citing upward revisions to analyst earnings estimates. The company is expected to post earnings of $4.05 per share for the current quarter, a year-over-year change of +86.6%, with the Zacks Consensus Estimate rising +13.3% over the last 30 days. For the current fiscal year, the consensus earnings estimate of $12.76 points to a change of +35.5% from the prior year, while the next fiscal year's estimate of $18.28 indicates a change of +43.3%. Revenue forecasts call for $10.29 billion in the current quarter, up +51.3% year over year, with current and next fiscal year estimates of $34.21 billion and $45.69 billion, representing changes of +20.6% and +33.6%. In its last reported quarter, Applied Materials posted revenues of $9.12 billion, up +24.8% year over year, and EPS of $3.5 versus $2.48 a year earlier, beating the Zacks Consensus Estimate of $9 billion by +1.31% on revenue and by +3.55% on EPS, and the company has topped consensus EPS and revenue estimates in each of the trailing four quarters. Despite the strong estimate momentum, Applied Materials carries a Zacks Value Style Score of D, indicating it trades at a premium to its peers.

JPMorgan raised its forecasts for the wafer fabrication equipment market and named KLA as its top pick among U.S. chip-equipment makers in a note to clients on Friday. Analyst Mio Shikanai lifted the bank's WFE market growth estimates to 31% for 2026, taking the market to $163 billion, 38% for 2027 at $225 billion and 17% for 2028 at $263 billion, a 28% compound annual growth rate over 2025 to 2028. Shikanai said cloud service providers are accelerating their investments in response to further growth in AI-related demand, with spending by the top four U.S. players seen growing at a 58% annual rate through 2028. DRAM memory and TSMC drove the upgrade, with the analyst expecting memory supply to lag demand even in 2028 and TSMC's leading-edge capacity to stay above 100% utilization. Shikanai said she sees the most attractive risk/reward in KLA given its relative underperformance year to date, underappreciated exposure to foundry and logic-led WFE spending in 2027, and potential for upward revisions to consensus revenue estimates, noting KLA shares are up about 50% this year but have lagged peers Lam Research and Applied Materials, up roughly 85% and 82%, respectively.

Applied Materials, Inc. announced that its Board of Directors has approved a quarterly cash dividend of $0.53 per share on the company's common stock, payable on Dec. 10, 2026 to shareholders of record as of Nov. 19, 2026. The dividend follows a 15-percent increase in the quarterly payout, from $0.46 to $0.53, announced in March 2026, which marked nine consecutive years of dividend increases and an 18 percent compound annual growth rate in dividend per share over the past decade. Over the past 10 fiscal years, the company has distributed nearly 90 percent of free cash flow to shareholders through dividends and share repurchases. In the third quarter of fiscal 2026, Applied distributed $860 million to shareholders through dividends and share repurchases, and it had approximately $12.8 billion remaining in its share repurchase authorization at the end of the period.

Maybank, in partnership with Krungthai Bank, has launched a new set of DR80 depositary receipts, which are now available for trading. These cover three investment megatrends: the industries of the future, the growth of AI, and investment opportunities in China. DR80s are instruments representing rights to foreign securities, allowing Thai investors to access leading global companies through the Stock Exchange of Thailand. Under the future industries theme, the DRs include Airbus and Palantir Technologies. The AI Supercycle theme comprises Ajinomoto, Applied Materials, and Intel. Meanwhile, the China theme features index-linked DRs such as CH30080, CHAI80, CHNEXT80, and CHSTAR5080. This initiative reflects Maybank and Krungthai's commitment to expanding investment opportunities into the global market.

Shares of Applied Materials, AMD, Broadcom, Lam Research, and Marvell Technology surged in afternoon trading after Qualcomm announced a multi-generational collaboration with Amazon Web Services to develop custom AI data center chips, and ASML, TSMC, and Intel revealed key advancements in next-generation chip manufacturing. Qualcomm's partnership with AWS focuses on co-designing custom AI chips for high-performance inference and data center workloads, aiming to cut operating costs and improve energy efficiency. At the SPIE Photomask conference, ASML and TSMC launched an initiative to transition from 6-inch to 12-inch photomasks, targeting a pilot line by 2031 and full production by 2033, which would reduce costs and boost output for advanced AI processors. Additionally, Intel Foundry and ASML confirmed that Intel has processed over one million wafers on its Intel 18A node using High NA EUV equipment. These developments boosted investor confidence in sub-2-nanometer chip designs and AI infrastructure, with Applied Materials up 3.4%, AMD up 6.5%, Broadcom up 3.3%, Lam Research up 4.2%, and Marvell Technology up 3.3%.

Applied Materials said AI investment is lifting semiconductor equipment demand, with customer spending forecasts rising and cloud providers' capital expenditures expected to exceed $700 billion in the U.S. and approach $1 trillion globally. CFO Brice Hill said at Citi's 2026 Global TMT Conference that the company's rolling eight-quarter forecasts from its largest customers, particularly DRAM and leading-edge logic manufacturers, have increased throughout the year. Advanced packaging is a major growth area, with revenue expected to grow more than 70% this year after generating $1.4 billion last year. DRAM is entering a significant greenfield expansion cycle, with the industry adding roughly 400,000 wafer starts per month this year and similar additions expected over the next several years. Services revenue is growing more than 20%, and process diagnostics and control is expected to grow more than 50%, driven by chip complexity and AI-enabled tools.

Applied Materials reported its biggest quarter-over-quarter revenue jump in history, with revenue climbing to $9.12 billion, up 25% year over year, and non-GAAP earnings per share jumping 41% to $3.50. The company says demand for advanced chips is running ahead of supply, with customers providing rolling eight-quarter forecasts and more than 10 new fab projects announced in the quarter. DRAM revenue grew 52% year over year to a record, and advanced packaging is projected to grow more than 70% in calendar 2026. Applied added Broadcom as an EPIC innovation partner, bringing its total to 11, and non-GAAP gross margin reached 50.4%, marking the 13th straight quarter of year-over-year expansion. Guidance for the next quarter calls for revenue of $10.25 billion, a 51% increase from a year earlier, but CFO Brice Hill noted the tax rate will rise to roughly 13% in 2027 due to the global minimum tax, and the company hired over 1,500 people this quarter, with fiscal first quarter of 2027 running 14 weeks instead of 13. China still accounted for 28% of total revenue, and hedge fund interest held flat at 137 funds, with short interest at 1.50% of the float.

Applied Materials has appointed Akash Palkhiwala, Chief Financial Officer and Chief Operating Officer of Qualcomm Incorporated, to its board of directors, effective immediately. Palkhiwala, who has also been named to the board's Audit Committee, brings extensive financial and operational leadership experience in the computing and technology industry. Chairman Tom Iannotti praised Palkhiwala's track record in finance and his decades of semiconductor industry experience, saying he will strengthen the board during Applied Materials' next phase of growth. Palkhiwala has served as Qualcomm's CFO since 2019 and COO since 2024, and previously held various finance roles at Qualcomm since 2001, as well as a private equity analyst position at KeyBank.

Applied Materials' Applied Global Services (AGS) business generated a record $1.78 billion in revenues in the third quarter of fiscal 2026, up 22% year over year, driven by subscription services and strong parts demand. The segment delivered a 35.6% gross margin and a 30.1% operating margin, up 180 and 280 basis points, respectively. Management expects AGS revenues to grow more than 20% in 2026 and sustain a mid-teens annual growth rate long term, as semiconductor fabs run at high utilization and seek to improve yields. Applied Materials shares have surged 86.8% year to date, and the company holds a Zacks Rank #2 (Buy).

Guinness Global Innovators Fund highlighted KLA Corporation as a notable contributor in its second-quarter 2026 investor letter. The fund holds three semiconductor equipment manufacturers, which were its top performers over the quarter: Applied Materials up 111.8% in USD, KLA up 105.2%, and Lam Research up 103.0%. KLA, the leader in process control and yield management, continues to play a critical role as semiconductor manufacturing becomes increasingly complex, with demand for its inspection and metrology tools structurally supported by the transition to advanced nodes, high-bandwidth memory and advanced packaging. The fund returned 13.8% in GBP for the quarter, compared with 13.0% for the MSCI World Index and 13.1% for the IA Global sector average.

Shares of Marvell Technology, FormFactor, and Applied Materials jumped in afternoon trading after Bloomberg reported that Anthropic told prospective investors its second-quarter revenue surged more than 14-fold to over $11.5 billion, up from $787 million a year earlier and $4.73 billion in the first quarter. The AI company also posted positive adjusted operating income for the first time, though Bloomberg noted the figures could still be revised. Reuters separately reported that Anthropic is projecting 2028 revenue of roughly $190 billion to $200 billion, fueling gains in memory and storage names. Commerce Secretary Howard Lutnick told The Wall Street Journal the Trump administration opposes Apple buying Chinese memory chips, a stance that would benefit Micron, Samsung, and SK hynix. Marvell Technology rose 5.8%, FormFactor gained 5.4%, and Applied Materials climbed 5.9%.

Applied Materials reported better-than-expected second-quarter results, with revenue up 24.8% year over year to $9.12 billion and non-GAAP earnings per share of $3.50, beating analyst estimates. The company also issued strong guidance for the next quarter, projecting revenue of $10.25 billion at the midpoint, which is 6.1% above analyst expectations. Management attributed the outperformance to robust demand for semiconductor manufacturing equipment, particularly in leading-edge logic and DRAM for AI infrastructure, as well as strength in advanced packaging and services. CEO Gary Dickerson highlighted that customers have found new ways to address clean room space constraints and significantly increase their demand for tool deliveries. Despite the positive results, the stock traded down from $540.01 before earnings to $507.81, reflecting a cautious market reaction.

Applied Materials reported record fiscal third-quarter revenue of $9.11 billion, up 25% from a year earlier and above estimates of $8.99 billion, while adjusted earnings per share of $3.50 beat the $3.38 consensus. Non-GAAP operating margin rose 3.3 percentage points to 34%, and free cash flow increased 14% to $2.33 billion. The company guided fiscal fourth-quarter revenue to approximately $10.25 billion and adjusted EPS to $4.02, both above Wall Street expectations, and expects advanced-packaging revenue to grow more than 70% in calendar 2026. Despite the strong results, shares fell 5% on Friday after roughly doubling year to date.

Shares of Entegris, Penguin Solutions, Seagate, Applied Materials, and KLA Corporation soared in afternoon trading after upbeat earnings and bullish forecasts from key AI industry players signaled robust demand for artificial intelligence technology. Super Micro Computer jumped after its earnings per share came in 84% higher than expected and it provided a revenue forecast that topped estimates, while CoreWeave rallied after its sales forecast also exceeded expectations. The positive sentiment spread globally, with Asian markets gaining as traders bought AI- and semiconductor-related shares, supported by a reported 155% year-over-year surge in South Korea's semiconductor exports for early August. Entegris jumped 6.1%, Penguin Solutions rose 4.7%, Seagate climbed 7.2%, Applied Materials gained 5%, and KLA Corporation advanced 4.2%.