Applied Materials Beats Estimates but Shares Fall as Lam Research Rises

Earnings
โดย Insider Monkey·US·Read original
Summary · why it matters

Applied Materials reported fiscal third-quarter results that beat Wall Street estimates on revenue and adjusted profit, yet its shares fell nearly 5% in after-hours trading and kept sliding into August 14, 2026, while rival Lam Research saw its stock rise 6% after its own stronger-than-expected results on July 29, 2026. Applied Materials posted adjusted earnings of $3.50 a share versus the $3.40 expected and revenue up 25% year over year to $9.12 billion, topping the roughly $9 billion forecast, and guided fourth-quarter revenue to about $10.25 billion, above the $9.55 billion analysts expected. Investors punished the stock because they wanted clearer proof the company is outpacing rivals rather than falling behind them, with Summit Insights Group noting Applied's topline has lagged peers including ASML and Lam Research, and Morgan Stanley calling the quarter good but not great. Lam Research forecast first-quarter revenue of $8.10 billion, well above the $7.09 billion expected, and adjusted earnings of $2.15 a share versus the $1.83 Wall Street expected, and its prior quarter also beat with revenue of $6.72 billion and adjusted earnings of $1.82 a share. Applied Materials trades at 32.14 times forward earnings, a discount to Lam's 34.59 times, KLA's 36.85 times, and ASML's 33.39 times, and a $220 million unrealized investment loss dragged GAAP earnings per share below estimates even as the adjusted figure beat.

Impact on stocks 9

Semiconductors± Mixed · 5 stocks
Applied Materials Inc
AMAT
▼ NegativeCapitalrelevance

Shares fell despite beating estimates as investors wanted clearer proof of outpacing rivals; GAAP EPS dragged by unrealized investment loss.

Lam Research Corp
LRCX
▲ PositiveCapitalrelevance

Stronger-than-expected results and guidance drove stock up 6%.

Artificial Intelligence▲ · 1 stocks
Energy▲ · 1 stocks
Financials▲ · 1 stocks
Energy Transition & Power Demand▲ · 1 stocks

Theme Impact 1

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