Applied Materials, the company that essentially builds the machines that build the chips that power everything from AI data centers to crypto mining rigs, jumped 15% in a single trading session. And it’s still more than 30% below its previous highs.
The semiconductor equipment maker is scheduled to report fiscal Q3 2026 earnings on August 13, with analysts expecting earnings per share of $3.38.
Record revenue and an AI-fueled tailwind
The company posted record revenue of $7.91 billion for Q2 FY2026, a figure reported on May 14 that represented an 11% increase year-over-year.
Non-GAAP earnings per share came in at $2.86, up 20% compared to the same period a year earlier.
