Applied Materials stock gains 1.77 percent as services grow

Applied Materials, Inc. (ISIN US0382221051) closed at USD 472.46 on Nasdaq on September 22, 2026, up 1.77 percent from USD 464.24. The move came as semiconductor equipment demand and recurring services revenue supported the latest market view of the company.

Revenue beats quarterly expectations

According to MarketBeat on September 22, 2026, Applied Materials reported fiscal Q3 2026 earnings of USD 3.50 per share against consensus of USD 3.40, a USD 0.10 beat. Revenue reached USD 9.12 billion versus USD 8.99 billion expected, while sales increased 24.8 percent from the prior-year quarter.

The comparison matters because earnings growth exceeded the prior-year base: fiscal Q3 EPS was USD 3.50 compared with USD 2.48 in the same quarter a year earlier. Applied Materials also set fiscal Q4 2026 EPS guidance at USD 3.82 to USD 4.22, giving the market a quantified range for the next reporting period.

Services add recurring revenue

According to Trefis on September 22, 2026, Applied Global Services generated a record USD 1.8 billion in fiscal Q3 2026 revenue, up 22 percent year over year. The segment represented about 20 percent of total quarterly sales of USD 9.1 billion.

The equipment business was larger and faster in the same period. Trefis reported fiscal Q3 2026 Semiconductor Systems revenue of USD 7.0 billion, up 27 percent year over year, while management guided fiscal Q4 2026 services revenue to about USD 1.84 billion, also 22 percent above the prior-year quarter.

Valuation keeps the risk visible

MarketBeat reported on September 22, 2026, that analysts held a Moderate Buy consensus with an average price target of USD 658.45. The same report cited a market capitalization of USD 374.94 billion and a price-to-earnings ratio of 40.73, figures that frame the stock's valuation alongside its operating growth.

The counter-factor is the semiconductor spending cycle. Trefis noted on September 22, 2026, that Applied Materials traded at 37.6 times past-year earnings compared with 22.5 times for the S&P 500, while the stock had declined 27 percent over the preceding three months. Services provide recurring revenue, but they account for only about one-fifth of sales, leaving the larger equipment business exposed to changes in fabrication investment.

Applied Materials stock closes at USD 472.46

Applied Materials stock closed at USD 472.46 on Nasdaq on September 22, 2026, after reaching an intraday high of USD 472.49. The prior close was USD 464.24, and 5,723,518 shares traded during the session, according to the dated market data reported by MarketBeat.

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