Applied Materials stock reports record USD 9.12 billion revenue

Applied Materials (ISIN US0382221051) reported record fiscal third-quarter 2026 revenue of USD 9.12 billion, up 25 percent year over year. The result arrived as Morgan Stanley reduced its price target, while the stock was trading at EUR 449.93 at Lang & Schwarz on September 30, 2026.

Revenue reaches USD 9.12 billion

According to TradingView, Applied Materials generated USD 9.115 billion in Q3 FY2026 revenue, compared with USD 7.302 billion in Q3 FY2025. That 25 percent increase was accompanied by GAAP diluted earnings per share of USD 3.17 and non-GAAP diluted earnings per share of USD 3.50.

The company also produced USD 3.037 billion in operating cash flow during the quarter and returned USD 860 million to shareholders through repurchases and dividends, according to TradingView. The figures point to operating leverage as artificial intelligence investment supports demand for semiconductor manufacturing equipment.

Morgan Stanley lowers its target

Investing.com reported on September 29, 2026, that Morgan Stanley lowered its Applied Materials price target from USD 642.00 to USD 563.00. The bank also reduced its valuation multiple from 26 times to 22 times while raising its 2027 revenue and earnings forecasts.

MarketBeat said on September 28, 2026, that Morgan Stanley maintained an equal weight rating. The target cut contrasts with the latest quarterly figures, which exceeded the USD 8.99 billion revenue consensus and the USD 3.40 adjusted earnings-per-share consensus cited in the report.

Stock trades at EUR 449.93

Applied Materials was trading at EUR 449.93 at Lang & Schwarz on September 30, 2026, at 10:18 a.m. CEST, down 0.38 percent versus the prior close of EUR 451.65. The primary listing is on NASDAQ under ticker AMAT, while the stock's 52-week range was USD 202.87 to USD 739.67 as of September 29, 2026.

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