Applied Materials, Inc. (AMAT) is preparing to announce its fiscal Q1 2026 earnings results, with expectations for an adjusted earnings per share (EPS) of $2.21. This figure represents a decline of 7.1% from the $2.38 reported in the same quarter last year. The Santa Clara, California-based company, valued at $253 billion, is a leading provider of materials engineering solutions and equipment for the semiconductor industry.
Analysts have noted that Applied Materials has consistently exceeded Wall Street’s earnings expectations over the past four quarters. For the entirety of fiscal 2026, projections suggest an adjusted EPS of $9.57, indicating a modest increase of 1.6% from $9.42 in fiscal 2024. Moreover, analysts forecast an 8.4% year-over-year growth in adjusted EPS, reaching $10.16 by the end of fiscal 2026.
Recent Performance and Market Reactions
In the past year, shares of Applied Materials have surged by 78.9%, significantly outperforming the broader S&P 500 Index, which has increased by 16.7%, and the State Street Technology Select Sector SPDR ETF, which gained 25.2%. Following the company’s Q4 2025 results announced on November 13, shares rebounded by 1.3% after reporting an adjusted EPS of $2.17 and revenue of $6.8 billion, both figures surpassing forecasts.
The company achieved record full-year revenue of $28.37 billion and an adjusted EPS of $9.42, largely driven by robust demand linked to investments in artificial intelligence-related semiconductors. This upward trajectory has bolstered investor confidence, especially with management projecting Q1 2026 revenue at approximately $6.85 billion and an adjusted EPS of $2.18.
Analysts maintain a moderately optimistic outlook on AMAT stock, assigning it a “Moderate Buy” rating overall. Out of 36 analysts covering the stock, 20 recommend a “Strong Buy,” four suggest “Moderate Buys,” and 12 advocate for a “Hold” rating. As of now, shares are trading above the average analyst price target of $279.45.
With the earnings report on the horizon, investors and market watchers will be keenly focused on how Applied Materials continues to navigate a rapidly evolving semiconductor landscape.
