AMAT
Applied Materials, Inc.Evidence as of 2026-09-09The desk's Snapshot
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Overview · Applied Materials, Inc.
Applied Materials, Inc. engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips o…
Management team
- Ms. Joji Sekhon Gill · Senior VP & Chief Human Resources OfficerFind on LinkedIn
- Mr. Timothy M. Deane · Senior Vice President of Applied Global ServicesFind on LinkedIn
- Mr. Joseph M. Pon · Chief Public Affairs Officer and Corporate VP of Communications & Public AffairsFind on LinkedIn
- Ms. Teri A. Little J.D. · Senior VP, Chief Legal Officer & Corporate SecretaryFind on LinkedIn
Start free to see the full management team.
Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it, not a rating or a recommendation.
−0.2 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled. The rest of the page is the evidence behind it.
Mixed ( -0.2 of a possible +2; was -0.2 before debate) · confidence high. Revenue from contracts rose each quarter from $ 7,012,000,000 in FISCAL Q1 2026 (2025-10-27 to 2026-01-25, 3mo) to $ 7,918,000,000 in FISCAL Q2 2026 (2026-01-26 to 2026-04-26, 3mo) and $ 9,115,000,000 in FISCAL Q3 2026 (2026-04-27 to 2026-07-26, 3mo). Gross profit and operating margins expanded across those quarters (gross profit $ 3,435,000,000 → $ 3,947,000,000 → $ 4,586,000,000; operating income $ 1,831,000,000 → $ 2,523,000,000 → $ 3,075,000,000), while reported net income and diluted EPS improved from Q1 to Q2 then moderated in Q3 ($ 2,026,000,000 → $ 2,806,000,000 → $ 2,538,000,000; EPS $ 2.54 → $ 3.51 → $ 3.17).
The balance sheet shows growth in size and equity (total assets $ 36,299,000,000 as of 2025-10-26 to $ 43,522,000,000 as of 2026-07-26; stockholders' equity $ 20,415,000,000 to $ 25,626,000,000), modest long-term debt reduction, stable share counts around 793–794 million, and positive free cash flow (FCF TTM $ 5.663 billion; operating cash flow TTM $ 7.206 billion; capex TTM $ 1.543 billion). Market signals are mixed: strong momentum readings and a golden cross coexist with high volatility, elevated beta, and a three-year maximum drawdown near -49.9%.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else (no outside knowledge, no browsing), so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC (revenue, margins, income, debt and share count, quarter by quarter) and reports which way the trend is running.
Revenue from contracts rose each quarter: $7,012,000,000 in fiscal Q1 2026 (2025-10-27 to 2026-01-25, 3mo), $7,918,000,000 in fiscal Q2 2026 (2026-01-26 to 2026-04-26, 3mo) and $9,115,000,000 in fiscal Q3 2026 (2026-04-27 to 2026-07-26, 3mo).
XBRL companyfacts · 0001628280-26-009694Gross profit and operating income margins expanded across the three quarters: gross profit was $3,435,000,000 (≈49.0% of revenue) in fiscal Q1 2026, $3,947,000,000 (≈49.8% of revenue) in fiscal Q2 2026, and $4,586,000,000 (≈50.3% of revenue) in fiscal Q3 2026; operating income was $1,831,000,000 (≈26.1% of revenue) in fiscal Q1 2026, $2,523,000,000 (≈31.9% of revenue) in fiscal Q2 2026, and $3,075,000,000 (≈33.7% of revenue) in fiscal Q3 2026.
XBRL companyfacts · 0001628280-26-058235Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full: its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet; its risk analysis fills in once that lands.
The Form 10-K filed 2025-12-12 reports that as of October 26, 2025, approximately 31% of total backlog is not reasonably expected to be filled within the next 12 months.
10-K filed 2025-12-12The Form 10-K filed 2025-12-12 discloses that in fiscal 2025 approximately 89% of net revenue was to customers in regions outside the United States and that two customers accounted for approximately 19% and 15%, respectively, of net revenue during fiscal 2025.
10-K filed 2025-12-12Reads the signal panel above (momentum, volatility, drawdown, relative strength and beta) and ranks each against the whole research universe rather than judging it in isolation.
Momentum, 12_1 is +204.9% and ranks in the 97th percentile of the 548-stock research universe on 2026-09-08.
Moneyta signal set · 2026-09-08weakened in debateSix-month momentum is +39.7% and ranks in the 90th percentile of the 548-stock research universe on 2026-09-08.
Moneyta signal set · 2026-09-08weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
Reported 13F institutional holdings total $211.93B as of 2026-03-31 (13F filings carry a 45-day reporting lag).
13F holdings · 2924 filers · as of 2026-03-31BlackRock, Inc. is listed as a top holder with a reported value of $26.99B as of 2026-03-31.
13F holdings · 2924 filers · as of 2026-03-31Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Several outlets report company commentary at Citi’s 2026 Global TMT Conference that Applied Materials says AI-related investment is driving stronger semiconductor equipment demand, with the company citing raised customer forecasts.
News · finance.yahoo.com · 2026-09-08A syndicated or similar story repeating the same Citi-conference AI-demand theme ran on at least one other distinct outlet.
News · thelincolnianonline.com · 2026-09-08Reads parsed Forms 3/4/5: who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Gary E. Dickerson (President and CEO) reported an open-market sale of 15,755 shares valued at "$9.3M" on 2026-06-16.
Form 4 · DICKERSON GARY E (President and CEO) · $9.3M sold · 2026-06-16Gary E. Dickerson (President and CEO) reported additional open-market sales on 2026-06-16 including 9,186 shares valued at "$5.4M" and multiple other lots (e.g., 10,411 shares for "$6.2M", 13,505 shares for "$8.1M") in the same filing.
Form 4 · DICKERSON GARY E (President and CEO) · $9.3M sold · 2026-06-16Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The model shows the current price implies an FCF growth rate of 41.41% (0.4141).
Valuation inputs · SEC XBRL + stored EOD closePrice to free cash flow (TTM) is 66.79.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score. The argument is shown, not hidden, so you can judge the reasoning yourself.
Multiple independent data points jointly support a favorable read: sequential quarterly revenue growth and expanding gross and operating margins (fundamentals-0, fundamentals-1) are accompanied by strong absolute cash generation (valuation-4) and a larger equity base and asset expansion (fundamentals-5), which together constitute robust operational and balance-sheet evidence. Filings showing a large patent portfolio and an active share-repurchase authorization (filings-2, filings-6) provide structural support for competitive position and capital-return optionality, while market signals—strong short- and medium-term momentum and above-universe relative strength (market-0, market-1, market-6)—and meaningful institutional ownership (ownership-0, ownership-1, ownership-2) are consistent with broad investor engagement. These pieces collectively strengthen the bull case by aligning fundamental profitability improvement with cash flow strength and positive market positioning, even as valuation multiples appear elevated relative to historical norms.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.33
49 surviving claims rest on 23 distinct sources; the heaviest analyst carries 20% of them, and 97% of what the desk raised survived the debate.
The read is moderately robust in breadth but shows concentration risks: a substantial share of claims trace to a limited set of sources and one analyst accounts for a fifth of surviving claims, so single-source errors or analyst bias could sway conclusions. The very high survival rate from internal debate indicates the desk largely agreed on these points, but that consensus amplifies the impact if any foundational source is wrong.
Peer context · computed, not argued
12-1 momentum ranks 5th of 11 in Semiconductor Equipment & Materials (as of 2026-09-08).
6-month relative strength ranks 5th of 11 in Semiconductor Equipment & Materials (as of 2026-09-08).
90-day volatility ranks 9th of 11 in Semiconductor Equipment & Materials (as of 2026-09-08).
dividend yield ranks 3rd of 11 in Semiconductor Equipment & Materials (as of 2026-09-08).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment. When the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here (no outside knowledge, no browsing), and each card shows who read it and what it contributed to the score.
8 filings· 3 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data, not retyped or estimated.
Read by Mercer+1.0 to the score
11 documents· 4 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes+0.0 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−0.2 to the score
3 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.9 to the score
8 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
6 filings· 1 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state, with stated and inferred flags kept apart.
Read by Talbot−0.9 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only; it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal; the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
The full terminal on AMAT Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
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