SANTA CLARA — Applied Materials reported its fiscal second-quarter 2026 results on May 14, 2026, with revenue increasing 11% year-over-year to $7.91 billion. The company's GAAP and non-GAAP earnings per share both rose 20% compared to the previous year.

For the fiscal second quarter of 2026, Applied Materials recorded GAAP earnings per share of $3.51 and non-GAAP earnings per share of $2.86. The company also reached a gross margin of 50% during this period. Applied Materials paid out $765 million in the last quarter, which included $400 million for share repurchases and $365 million in dividends.

Applied Materials expects its semiconductor equipment business to increase more than 30% in calendar 2026. "The company now expects its semiconductor equipment business to increase more than 30% in calendar 2026 due to fast-growing demand from AI infrastructure investments," CEO Gary Dickerson said. The company's shares reached a 52-week high of $739.67 on Tuesday, July 1, 2026.

Analysts have adjusted their outlooks for Applied Materials stock. KeyBanc Capital Markets raised its price target for the stock to $750 and reiterated an "Overweight" recommendation. Sesquania set a price target of $900 and maintained a "Positive" rating for the stock. The consensus mean price target for Applied Materials stock is approximately $594.21.

Applied Materials, headquartered in Santa Clara, California, has a market capitalization of approximately $551.5 billion. Applied Materials' latest financial results indicate an increase in its revenue and earnings per share, aligning with a broader trend of growth in the semiconductor equipment industry. The company's projections for its semiconductor equipment business reflect expectations of continued expansion throughout 2026, driven by investments in artificial intelligence infrastructure. These financial updates and market analyses provide insights into the company's performance and future outlook within the technology sector.