Applied Materials reports its fiscal third-quarter 2026 earnings today after the market close, with the chipmaking equipment maker’s stock hovering near $556 as investors await results that will test whether AI-driven semiconductor demand remains robust through the summer.
The company is scheduled to hold its earnings conference call at 4:30 p.m. ET, following guidance it issued in May that called for Q3 revenue of approximately $8.95 billion, plus or minus $500 million. That midpoint represents roughly 23% year-over-year growth and already exceeded Wall Street’s prior consensus of $8.09 billion.
Analysts now expect the company to report Q3 revenue closer to $9.04 billion, up about 25% year-over-year, with non-GAAP earnings per share around $3.39 to $3.40, according to recent forecasts. Applied Materials guided for $3.36 per share in adjusted earnings, plus or minus $0.20.
The earnings report arrives as semiconductor equipment makers benefit from an unprecedented wave of spending by major technology companies building AI infrastructure and expanding data center capacity. Applied Materials, which supplies the tools used to manufacture advanced semiconductor chips, stands at the center of this boom.
In May, the company raised its outlook for the full year, projecting that its semiconductor systems business will grow more than 30% in calendar 2026, driven by demand across advanced logic, DRAM, high-bandwidth memory, and advanced packaging. The company’s packaging business alone is expected to surge more than 50% in 2026.
The broader semiconductor equipment industry is experiencing historic growth. According to industry forecasts, wafer fabrication equipment spending is expected to reach approximately $145 billion in 2026, fueled by AI-driven capacity expansion. Deloitte predicts that generative AI chips alone will approach $500 billion in revenue in 2026, or roughly half of global chip sales.
Applied Materials beat analyst expectations in its most recent quarter. In May, when the company reported Q2 fiscal 2026 results, it delivered record revenue of $7.91 billion, up 11% year-over-year, and non-GAAP earnings per share of $2.86, which surpassed the consensus estimate of $2.68 by $0.18.
The Q3 results will offer investors a window into whether the company can sustain that momentum through the second half of the year. Applied Materials’ stock has climbed 105% year-to-date but has retreated about 25% from its June all-time high of $739.67, reflecting broader semiconductor sector volatility and periodic concerns about whether AI infrastructure spending can sustain its current pace.
The company’s guidance and earnings call commentary will likely address supply chain conditions, customer inventory levels, and management’s confidence in the strength of AI-driven demand extending into 2027. Analysts will also listen for any updates on the company’s full-year outlook and its expectations for semiconductor equipment industry growth beyond 2026.
Sources
- Applied Materials Investor Relations — Q3 2026 earnings date, time, and guidance announcement
- Yahoo Finance — Current stock price, analyst revenue and EPS expectations for Q3
- Robinhood and CNBC — Real-time stock price near $556
- Investopedia — Q2 2026 earnings results and year-over-year growth
- Benzinga — Analyst expectations for Q3 EPS and year-to-date stock performance
- Deloitte — 2026 semiconductor and AI chip revenue forecasts
- Reuters and Quintile Reports — Wafer fabrication equipment spending forecasts and AI-driven growth drivers
- Barchart and The Times — Applied Materials’ guidance for 30% semiconductor equipment growth and packaging surge in 2026
