TLDR
- Applied Materials stock fell 3.6% in regular trading Thursday, even after a quarterly beat.
- Fiscal Q4 revenue hit $10.4 billion, with adjusted earnings of $4.16 a share.
- Guidance for the current quarter is about $11.1 billion, above analyst estimates.
- Nvidia CEO Jensen Huang’s resignation weighed on chip stocks, including Lam Research and KLA.
- The stock is still up about 48% this year.
Applied Materials (AMAT) stock fell 3.6% in regular trading on Thursday. That came even though the company beat earnings estimates and lifted its outlook.
The pressure came from Nvidia (NVDA), where CEO Jensen Huang’s resignation rattled tech investors. Nvidia stock dropped 4.3% on the day.
Peers felt it too. Lam Research (LRCX) slid 0.9% and KLA (KLAC) fell 2.3%.
APPLIED MATERIALS $AMAT Q4’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $10.41B (Est. $10.3B) 🟢; +53% YoY
🔹 Adj. EPS: $4.16 (Est. $4.05) 🟢; +92% YoY
🔹 Non-GAAP Gross Margin: 50.6% (Est. 50.45%) 🟢
🔹 Non-GAAP Oper Income: $3.68B (Est. $3.62B) 🟢
🔹 Non-GAAP FCF: $2.6B (Est. $2.26B) 🟢… pic.twitter.com/fZnIHiotSk— Wall St Engine (@wallstengine) November 12, 2026
The worry is that any slowdown at Nvidia could hurt the wider chip trade. Applied’s good news simply got caught in that wave.
Even after the dip, the stock is still up about 48% this year.
A Beat on Both Lines
Applied posted fiscal fourth-quarter revenue of $10.4 billion. Adjusted earnings came in at $4.16 a share.
Analysts were looking for about $10.3 billion in revenue and adjusted earnings near $4.05 to $4.06. The company cleared both bars.
Semiconductor Systems revenue jumped to $8 billion. That is up about 64% from a year earlier.
China made up 25% of fourth-quarter revenue, down from 29% a year ago. Sales there still rose about 35% to $2.64 billion.
Customers include Intel, Micron and Samsung. Applied is also one of Apple’s partners in its American Manufacturing Program, with work at its Austin, Texas, site to boost US chipmaking equipment production.
Guidance Tops the Street
For the current quarter, Applied expects revenue of about $11.1 billion, plus or minus $500 million, Reuters reported. Analysts had pegged it near $10.85 billion to $10.89 billion.
The company also guided earnings to $4.35 a share. The Street was at $4.24.
CEO Gary Dickerson said he expects 2027 to be “another record year for the market and Applied.” He added that wafer fab equipment demand should rise more than 30%.
Customers are asking for tools sooner, not later. Bob O’Donnell of TECHnalysis Research said chipmakers are “buying as much equipment as they possibly can.”
In after-hours trading Thursday, the stock wavered and was mostly flat to marginally higher.
