Applied Materials Shares Rise on Peer Performance, Set to Report Earnings Aug. 13
Shares of Applied Materials (NASDAQ: AMAT) rose about 15% on July 30 and continued upward into August 1, driven by positive results from peer Lam Research rather than any news from the company itself. Despite this gain, shares remain over 30% below their 52-week high of $739.67. Applied Materials is set to report fiscal third-quarter earnings on August 13, with management guiding for revenue between $8.45 billion and $9.45 billion — a potential record performance. The company's May results showed strong growth in both revenue (up 11% year-over-year) and adjusted earnings per share (20% increase), supported by robust demand from the AI build-out. The CEO, Gary Dickerson, has expressed confidence that Applied Materials is well-positioned for sustained multi-year growth due to its leadership in key technologies like logic chips, DRAM, and advanced packaging. The upcoming report will be critical in validating these expectations.
Topics: Applied Materials earnings report Lam Research semiconductor equipment