Applied Materials (AMAT)
NASDAQInformation TechnologySemiconductorsSnapshot 2026-09-04
$454.71+4.31%
Close 2026-09-04 · 1-day change
NASDAQInformation TechnologySemiconductorsSnapshot 2026-09-04
Research Workspace
Put AMAT beside peers and holdings, graph the same metric, and keep your notes with the evidence.
Daily closes. Earnings/event dots are placed inline.
Industries move in repeating boom-and-bust cycles. This shows where this stock’s industry sits in that cycle, stage by stage (recovery → expansion → supercycle → steady → deceleration → contraction), from its fundamentals (orders, revenue, capital spending), not the stock’s price.
A booming industry is a tailwind for the names in it; a contracting one is a headwind. Companies in the same industry tend to rise and fall together with the cycle, the way a tide lifts and lowers every boat in the harbor at once, so a large part of a stock’s swing can come from where its industry sits rather than from the company itself. It’s context for reading the company’s results, not a buy/sell call. Full explanation →
Semiconductor Materials & Equipment is in expansion. Describes the industry's cycle state, not a call on this stock.
The stage band shows the industry’s cycle over the chart’s timeline (each color a stage); a ▼ marks a quarter its growth inflected down — amber is an unconfirmed watch, red is confirmed the next quarter. Use “Overlay cycle on chart” to tint the price chart by stage. The industry’s fundamentals, not a signal on this stock.
The reason to own it still holds.
View ThesisRevenue is growing steadily — about 8% over the past year.
View GrowthMiddle-of-the-pack quality for its industry.
View QualityManagement screens strong on capital allocation, earnings delivery, margins.
View ManagementExpectations look high — the market is pricing in about 59% growth a year, above the roughly 44% analysts expect, leaving little room for error.
View ValuationThis stock is volatile — it swings about 3% on a typical day and fell roughly 40% in its worst 12-month stretch.
View RiskApplied Materials' growth in semiconductor equipment is driven by strong demand for AI infrastructure. Revenue grew 25% year over year, and Q3 guidance is above analyst estimates. It trades at 42× P/E versus a peer median of 47×, indicating a premium valuation. The market is pricing in more growth than forecasted, suggesting expectations look full. A specific risk is the potential for guidance cuts, with an 11% miss probability for the next quarter. Peer multiples imply a price about 59% below where it trades. Our read remains intact.
Trailing returns as of 2026-09-04. AMAT is total return (includes dividends); the S&P 500 benchmark is price return (the index excludes dividends).
Based on 39 analysts currently covering AMAT (as of Sep 2026).
Based on 23 Wall Street analysts offering 12-month price targets for AMAT in the last 4 months.
Continue this research
Compare AMAT with peers and holdings, graph the same reported metric, keep your questions beside the evidence, and return when the facts change.
Free account required to save the handoff. No credit card.
| Compare | Company | Living FV | P/E | Revenue % | Quality |
|---|---|---|---|---|---|
| AMAT Selected company | Graph | Compare | Trend | Review | |
| Peer Add a competitor | Graph | Compare | Trend | Review | |
| Holding Compare a holding | Graph | Compare | Trend | Review |
Selected metric trend
Quarterly · checked companies · value or % of revenue
A consensus fair price across 11 valuation methods, at three horizons. As of 2026-09-04. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
Today's peer multiple on trailing earnings, with no growth credited. This is the headline read.
Adds projected growth, so it leans optimistic by design. Read it as upside context, not a base case.
A price-focused, side-by-side fair-value read versus Semiconductor Materials & Equipment — fair value, gap to price, and forward P/E.
Compare the value case
Put AMAT next to peers and holdings, compare Living FV and multiples, then graph the driver behind the difference.
Advances: Expand EPIC Center partnerships to accelerate semiconductor innovation
AI-driven backlog supports EPIC Center partnerships and innovation.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
End-of-day figures as of 2026-09-04. EPS is implied from price ÷ P/E. Not investment advice.
Current $454.71
The last 12 months of price, then the range of analyst 12-month targets from today’s $454.71.
Analyst ratings and price targets are third-party Wall Street estimates, not QuarterlyIQ’s view. Not investment advice.
A long-thesis check that carries the widest uncertainty of the three horizons.
Top 10% on quality vs scored peers
A second lens on the 12-month fair value: for companies that score high on measured quality (profitability, balance-sheet safety, earnings stability), this read trusts more of today's profit margins instead of averaging them toward their multi-year history the way the headline number does. Shown alongside the fair value above, not in place of it. A diagnostic, not a price target or a buy/sell signal.
Direction of the business behind the multiple. Bands are backend reads; trailing-12-month basis.
Advances: Grow semiconductor equipment business by over 30% in 2026
AI growth aligns with semiconductor equipment business expansion.
Advances: Grow semiconductor equipment business by over 30% in 2026
AI chip demand supports semiconductor equipment growth.
Advances: Grow semiconductor equipment business by over 30% in 2026
Beating expectations supports growth in semiconductor equipment.
Threatens: Grow semiconductor equipment business by over 30% in 2026
Q3 results not meeting expectations may hinder growth objectives.
Advances: Grow semiconductor equipment business by over 30% in 2026
Analyst upgrade supports growth in semiconductor equipment business.
Threatens: Grow semiconductor equipment business by over 30% in 2026
Premarket decline may indicate broader sector weakness.
New buy recommendation suggests positive outlook for AMAT.
