Applied Materials NASDAQ: AMAT stock price is rebounding now that the Q3 results are in. The report's takeaway is that outperformance in Q3 was compounded by better-than-feared guidance and shows strengthening in all end markets. Strength is driven by the push for AI, which has gripped global technology markets. Applied Materials is ideally situated to continue capturing that strength because of its leadership position in semiconductor equipment and adjacent markets, including memory and display technology. ...

Sundry Photography The semiconductor stocks as a group have been hammered in the past few weeks. Even leaders like NVIDIA (NVDA) lost massive portions of their value into the early-August low, but the group has surged once again since then. Whether this is a bounce or the start of a new, sustained rally remains to be seen. In this article, we’ll take a fresh look at Applied Materials (NASDAQ:AMAT), which reported third quarter earnings on the 15th. The last time I covered AMAT I came to the conclusion t ...

Applied Materials, Inc AMAT stock declined on Friday after the company reported upbeat third-quarter earnings on Thursday.The results came amid an exciting earnings season. Here are some key analyst takeaways.Applied Materials reported third-quarter revenue of $6.78 billion, beating the analyst consensus estimate of $6.67 billion. The company reported adjusted EPS of $2.12, beating analyst consensus estimates of 2.02.Also Read: Applied Materials Stock Drops After Chips Act Denies FundingNeedham analyst Char ...

Core Insights - Applied Materials Inc. (AMAT) reported third-quarter fiscal 2024 non-GAAP earnings of $2.12 per share, exceeding the Zacks Consensus Estimate by 5.5% and improving 12% year-over-year [1] - Net revenues reached $6.78 billion, a 5% increase from the previous year, surpassing the consensus estimate by 1.6% [1] - The company experienced strong momentum in the Display and Adjacent Markets and Applied Global Services (AGS) segments, with notable performance in the Semiconductor Systems segment [1] - AMAT's shares have increased by 31.2% over the past year, outperforming the industry's growth of 17.4% [1] - Weak momentum in Taiwan and Europe was identified as a significant negative factor [1] Segment Performance - Semiconductor Systems generated revenues of $4.92 billion, accounting for 72.7% of net revenues, reflecting a growth of 5.3% year-over-year and surpassing the Zacks Consensus Estimate by 2.3% [2] - AGS reported revenues of $1.58 billion, representing 23.3% of net revenues, up 7.9% from the prior year and exceeding the consensus estimate by 0.5% [2] - Revenues from Display and Adjacent Markets were $251 million, up 6.8% year-over-year, beating the consensus estimate by 2.4% [2] - Corporate and Other revenues were $23 million, down 54% year-over-year [2] Geographic Revenue Breakdown - Revenues by geography included: - United States: $1.05 billion (16%) - Europe: $339 million (5%) - Japan: $555 million (8%) - Korea: $1.1 billion (16%) - Taiwan: $1.15 billion (17%) - Southeast Asia: $428 million (6%) - China: $2.15 billion (32%) [3] - Year-over-year revenue changes showed increases in the U.S. (1.3%), Japan (16.1%), Korea (11.5%), Southeast Asia (137.8%), and China (24.2%), while Europe and Taiwan saw declines of 48.7% and 14.6%, respectively [3] Operating Results - The non-GAAP gross margin was 47.4%, expanding by 100 basis points from the previous year [4] - Operating expenses were $1.26 billion, an 8% increase year-over-year, with expenses as a percentage of sales rising to 18.7% [4] - The non-GAAP operating margin improved to 28.8%, up 50 basis points year-over-year [4] Balance Sheet & Cash Flow - As of July 28, 2024, cash and short-term investments totaled $9.1 billion, up from $7.6 billion as of April 28, 2024 [5] - Inventories were $5.6 billion, slightly down from $5.7 billion in the previous quarter [5] - Accounts receivables increased to $4.97 billion from $4.8 billion in the prior quarter [5] - Long-term debt rose to $6.16 billion from $5.463 billion at the end of the previous quarter [5] - Free cash flow generated was $2.09 billion, up from $1.14 billion in the prior quarter [6] - AMAT returned $1.19 billion to shareholders, including $861 million in share repurchases and $331 million in dividends [6] Guidance - For the fiscal fourth quarter, AMAT expects net sales of $6.93 billion (+/- $400 million), with the Zacks Consensus Estimate at $6.89 billion [7] - Projected sales for Semiconductor Systems, AGS, and Display are $5.1 billion, $1.61 billion, and $200 million, respectively [7] - The company anticipates a non-GAAP gross margin of 47.4% and operating expenses of $1.275 billion, with a non-GAAP tax rate of 12.5% [7] - Expected non-GAAP earnings per share are $2.18 (+/- $0.18), with the Zacks Consensus Estimate at $2.11 [7]

Applied Materials, Inc. (NASDAQ:AMAT) Q3 2024 Earnings Conference Call August 15, 2024 4:30 PM ET Company Participants Michael Sullivan - Corporate Vice President Gary Dickerson - President & Chief Executive Officer Brice Hill - Chief Financial Officer Conference Call Participants CJ Muse - Cantor Fitzgerald Stacy Rasgon - Bernstein Research Srini Pajjuri - Raymond James Vivek Arya - Bank of America Securities Chris Caso - Wolfe Research Krish Sankar - TD Cowen Joseph Moore - Morgan Stanley Joe Quatrochi - ...

Thursday, August 15th, 2024Another big day for the major market indexes. Robust data on Retail Sales, Exports and better-than-expected Jobless Claims all demonstrate that recession fears in the market had gotten ahead of themselves. Even with the idea that a 50 basis point (bps) rate cut by the Fed next month may be off the table — in favor of a 25 bps cut — markets rallied throughout the day.The Dow closed up +554 points, +1.39%. Yet it is the only major index to have climbed back into positive territory a ...

For the quarter ended July 2024, Applied Materials (AMAT) reported revenue of $6.78 billion, up 5.5% over the same period last year. EPS came in at $2.12, compared to $1.90 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $6.67 billion, representing a surprise of +1.63%. The company delivered an EPS surprise of +5.47%, with the consensus EPS estimate being $2.01.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...

Applied Materials (AMAT) came out with quarterly earnings of $2.12 per share, beating the Zacks Consensus Estimate of $2.01 per share. This compares to earnings of $1.90 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.47%. A quarter ago, it was expected that this maker of chipmaking equipment would post earnings of $1.97 per share when it actually produced earnings of $2.09, delivering a surprise of 6.09%.Over the last four ...

Key TakeawaysApplied Materials reported stronger-than-expected results for the fiscal third quarter and provided an outlook in line with projections.Quarterly revenue reached a record high and profit topped analysts' estimates.Applied Materials CEO Gary Dickerson said the record revenue was fueled by the race for artificial intelligence leadership. Applied Materials (AMAT) posted stronger-than-expected results for the fiscal third quarter, amid a surge in demand that the company's CEO said was fueled by the ...

Third Quarter Fiscal 2024 Earnings Presentation August 15, 2024 Applied Materials External Forward-Looking Statements 2 This presentation contains forward-looking statements, including those regarding anticipated growth and trends in our businesses and markets, industry outlooks and demand drivers, technology transitions, our business and financial performance and market share positions, our capital allocation and cash deployment strategies, our investment and growth strategies, our development of new produ ...