Applied Materials Shares Rise on Lam Research's Strong Results; Earnings Report Looms
Shares of Applied Materials (NASDAQ: AMAT) rose about 15% on July 30, driven by strong results from peer company Lam Research. Lam reported record revenue and earnings for its June quarter and raised guidance for the September quarter to $8.1 billion, which boosted investor sentiment across chip equipment stocks. Applied's stock closed at $501.77 after Thursday’s rally but remains more than 30% below its 52-week high of $739.67. Applied Materials is set to report fiscal third-quarter results on August 13, with management guiding for revenue between $8.45 billion and $9.45 billion—another potential record. The company has already seen strong performance in its most recent quarter, reporting a year-over-year revenue increase of 11% to $7.91 billion and non-GAAP earnings per share growth of 20%. CEO Gary Dickerson highlighted the AI build-out as a key driver for sustained multi-year growth. The upcoming report will be critical in validating Applied's guidance and long-term outlook, particularly given its bullish call for over 30% semiconductor equipment business growth by calendar year 2026. The stock’s recent gains reflect optimism tied to the broader AI infrastructure spending wave.
Topics: Applied Materials Lam Research semiconductor equipment stock price movement