Applied Materials Q4 2026: AI Demand Drives Record Quarter
As seen on the 24/7 Wall St. homepage on November 12, 2026.
AI chip demand nearly doubled Semiconductor Systems revenue to $8.00 billion year over year, and management guided fiscal Q1 well above the quarter just reported. That is the sixth straight EPS beat, with record buybacks in the quarter.
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Applied Materials reported Q4 2026 non-GAAP EPS of $4.16, beating the consensus estimate and extending its streak of beating Wall Street's EPS estimate to six consecutive quarters.
Semiconductor Systems revenue nearly doubled to $8.00 billion as AI-driven capital spending pulled the segment sharply higher, with DRAM and flash memory both taking a larger share of revenue.
Profitability improved alongside revenue, with non-GAAP gross margin expanding to 50.6% and record operating cash flow funding the largest buyback in more than eight years.
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CEO Gary D***erson credited AI with fueling "strong incremental demand for semiconductors" and said the company is in "a great position for multi-year revenue and profit growth." He also noted that Applied delivered record results in fiscal 2026 and is on track to grow Semiconductor Systems more than 40% in calendar 2026.
For fiscal Q1 2027, management guided revenue of $11.10 billion, a meaningful step up from the quarter just reported, signaling that AI-fueled equipment demand keeps accelerating.
Mentioned: AMAT
