Applied Materials, Inc. (NASDAQ:AMAT) BofA Securities Global Technology Conference Call June 7, 2023 4:20 PM ET Company Participants Brice Hill - SVP and CFO Conference Call Participants Vivek Arya - Bank of America Vivek Arya Welcome to this session. Really delighted to have the team from Applied Materials, Senior Vice President and CFO, Brice Hill joining us this afternoon. I’ll go through a list of my questions. But if you have anything you’d like to bring up, please feel free to raise your hand. And I’l ...

Applied Materials, Inc. (NASDAQ:AMAT) Bernstein's 39th Annual Strategic Decisions Conference 2023 June 1, 2023 1:30 PM ET Company Participants Gary Dickerson - President and Chief Executive Officer Conference Call Participants Stacy Rasgon - Bernstein Stacy Rasgon Thank you everyone for coming, oh, but you don't have a Safe Harbor statement or anything that I need to redo. Gary Dickerson I don't think so. Stacy Rasgon Okay, we're good. Gary Dickerson Alright. Awesome. Stacy Rasgon Sorry. Thank you for comin ...

Financial Performance - Net sales for the three months ended April 30, 2023, were $6,630 million, a 6.2% increase from $6,245 million for the same period in 2022[6] - Gross profit for the three months ended April 30, 2023, was $3,094 million, representing a gross margin of 46.7%, compared to $2,927 million and a margin of 46.9% in the prior year[6] - Net income for the three months ended April 30, 2023, was $1,575 million, up 2.5% from $1,536 million in the same period last year[8] - Earnings per share (EPS) for the three months ended April 30, 2023, were $1.87 (basic) and $1.86 (diluted), compared to $1.75 and $1.74, respectively, in the prior year[6] - The company reported a comprehensive income of $1,575 million for the three months ended April 30, 2023, compared to $1,539 million in the prior year[8] - Net income for the six months ended April 30, 2023, was $3,292 million, compared to $3,328 million for the same period in 2022, reflecting a decrease of 1.1%[22] - Cash provided by operating activities for the six months ended April 30, 2023, was $4,562 million, an increase of 48.5% from $3,073 million in the same period of 2022[22] - Total cash, cash equivalents, and restricted cash equivalents at the end of the period was $4,695 million, up from $3,435 million a year earlier, representing a 36.7% increase[22] - Total net sales for the three months ended April 30, 2023, were $6,630 million, a 6% increase from $6,245 million in the same period last year[139] - Net sales for the six months ended April 30, 2023, were $13,369 million, a 7% increase from $12,516 million for the same period in 2022[61] Assets and Liabilities - Total current assets as of April 30, 2023, increased to $17,773 million from $15,925 million as of October 30, 2022, reflecting a growth of 11.6%[11] - Total assets as of April 30, 2023, were $29,092 million, up from $26,726 million as of October 30, 2022, indicating an increase of 8.5%[11] - Total liabilities as of April 30, 2023, were $14,963 million, compared to $14,532 million as of October 30, 2022, representing a rise of 3.0%[11] - The balance of retained earnings as of April 30, 2023, was $40,696 million, up from $37,892 million as of October 30, 2022, reflecting an increase of 7.4%[22] - Total inventories as of April 30, 2023, were $5,940 million, slightly up from $5,932 million as of October 30, 2022[71] - Accounts receivable net of allowance for credit losses was $29 million as of April 30, 2023, consistent with the previous year[66] - Accounts payable decreased to $1,468 million as of April 30, 2023, down from $1,755 million on October 30, 2022, a reduction of 16.4%[74] Expenses - Research, development, and engineering expenses for the three months ended April 30, 2023, were $775 million, an increase from $686 million in the same period last year[6] - Research, development, and engineering expenses increased to $1,546 million for the six months ended April 30, 2023, compared to $1,340 million, marking a 15% rise[61] - Marketing and selling expenses increased by $21 million to $194 million for the three months ended April 30, 2023, driven by additional headcount and higher travel expenses[150] - General and Administrative (G&A) expenses rose by $40 million to $214 million, attributed to increased headcount and higher professional fees[152] - Interest expense for the six months ended April 30, 2023, was $120 million, compared to $115 million for the same period in 2022[61] - Interest expense for the three months ended April 30, 2023, was $61 million, a slight increase from $58 million in the prior year[154] Dividends and Stock Repurchases - The company declared dividends of $0.32 per common share during the quarter, totaling $268 million[14] - Dividends declared were $488 million, with a dividend of $0.58 per common share, compared to $226 million and $0.26 per share in the same period last year[22] - Common stock repurchases amounted to $1,054 million for the six months ended April 30, 2023, compared to $3,603 million in the same period of 2022, indicating a reduction of 70.7%[22] - The company has $13.9 billion remaining available for stock repurchases under its program as of April 30, 2023, following a $10 billion authorization in March 2023[105] - The average price paid per share for stock repurchases in the three months ended April 30, 2023, was $115.53, compared to $124.84 in the same period of 2022[106] Segment Performance - The Semiconductor Systems segment generated $4.98 billion in net sales and $1.76 billion in operating income for the three months ended April 30, 2023, compared to $4.46 billion and $1.65 billion in the same period last year, indicating a 11.7% increase in net sales[126] - The Applied Global Services segment reported net sales of $1.43 billion and operating income of $414 million for the three months ended April 30, 2023, compared to $1.38 billion and $422 million in the same period last year[126] - The Display and Adjacent Markets segment generated $168 million in net sales with an operating income of $21 million for the three months ended April 30, 2023, compared to $381 million and $81 million in the same period last year[126] - Net sales for the Applied Global Services segment were $1.428 billion for the three months ended April 30, 2023, a 3% increase from $1.383 billion in the same period last year[164] - Operating margin for the Applied Global Services segment decreased to 29.0% for the three months ended April 30, 2023, down from 30.5% in the prior year[164] Market Conditions and Risks - The company faces risks from uncertain global economic conditions, which could materially adversely impact operating results and customer demand[193] - Supply chain disruptions and increased costs due to rising inflation and interest rates may lead to reduced profitability and operational challenges[195] - The company is exposed to risks associated with a highly concentrated customer base, particularly in China, Taiwan, Japan, and Korea, which could lead to greater volatility in business performance[200] - Recent U.S. export regulations have limited the market for certain products, adversely impacting revenues and increasing exposure to foreign competition[198] - Difficulties in obtaining timely supply of parts and materials have resulted in manufacturing interruptions, potentially affecting the ability to meet customer demand[202] - The company must continue to invest in research and development despite economic uncertainties, which may negatively impact operating margins[195] - Economic and industry uncertainty may lead to customer bankruptcies or mergers, further affecting sales and inventory levels[193] - The company maintains an investment portfolio subject to market risks, which could be negatively impacted by deteriorating financial market conditions[195] - Ongoing supply chain constraints may increase logistics and parts costs, potentially leading to reduced demand for products[202] - The company faced supply chain disruptions due to a cybersecurity incident affecting a major supplier, leading to delays in parts and supplies[203] Accounting and Financial Management - The company is currently evaluating the impact of new accounting standards on its consolidated financial statements, effective in fiscal 2024 and 2025[26] - The company has early adoption permitted for certain accounting standards, indicating proactive financial management[26] - The effective tax rate for the second quarter of fiscal 2023 was 11.4%, down from 17.6% in the same period of fiscal 2022, primarily due to a reduction of deferred tax assets related to a new tax incentive in Singapore[117] - The company anticipates an increase in effective tax rates due to the capitalization of research and development expenditures starting in fiscal 2023[178]

Applied Materials, Inc. (NASDAQ:AMAT) Q2 2023 Earnings Conference Call May 18, 2023 4:30 PM ET Company Participants Michael Sullivan - Corporate Vice President Gary Dickerson - President and Chief Executive Officer Brice Hill - Senior Vice President and Chief Financial Officer Conference Call Participants Christopher Muse - Evercore ISI Stacy Rasgon - Sanford C. Bernstein & Co. Vivek Arya - Bank of America Merrill Lynch Krish Sankar - TD Cowen Atif Malik - Citigroup Inc. Mark Lipacis - Jefferies LLC Toshiya ...

Second Quarter Fiscal 2023 Earnings Presentation May 18, 2023 Applied Materials External Forward-Looking Statements 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 products ...

Summary of Applied Materials, Inc. Conference Call Company Overview - **Company**: Applied Materials, Inc. (NASDAQ: AMAT) - **Industry**: Semiconductor Equipment Key Points and Arguments Industry Importance - The semiconductor industry is recognized as crucial, supported by government programs and incentives [3][4] - Applied Materials focuses on innovation in transistors and semiconductors, with a long-term vision of pushing technology 5 to 8 years ahead [3][4] Financial Performance - Recent earnings showed a rise in backlog, attributed to strong demand in ICAPs (IoT, communications, automotive, power, sensors) markets, which grew quickly last year and are accelerating this year [6][7] - The backlog increased due to supply chain issues, with expectations to normalize as supply chains improve [8][10] Market Dynamics - Memory market is currently weak, with declining prices and rising inventories, but there is confidence in a potential recovery due to ongoing demand for memory in AI and machine learning applications [36][38] - ICAPs are expected to sustain growth driven by electric vehicles, renewable energy, and sensor markets, with forecasts indicating 6% to 9% growth across various segments [33][35] Supply Chain Challenges - Supply chain issues have been exacerbated by COVID-19, leading to delays in fulfilling orders, but improvements are anticipated in the coming quarters [8][11] - The company is managing a complex supply chain with thousands of components, making it challenging to keep pace with industry growth [10][11] Technological Innovations - The Sculpta tool was highlighted as a significant innovation, allowing customers to modify silicon patterns, which can enhance efficiency and yield [26][28] - Applied Materials is well-positioned to benefit from advancements in gate-all-around transistors and other materials engineering innovations [25][27] China Market Impact - The company anticipates a mitigated impact of $1.5 billion to $2 billion from export controls affecting demand from China, with 17% of Q1 revenues coming from the region [19][20] - Chinese companies are investing in mature nodes to build their own foundry businesses, indicating ongoing demand despite regulatory challenges [20][21] Services Business Growth - The services segment is expected to grow, driven by an increasing installed base of tools and a focus on providing better uptime and yield for customers [39][41] - Despite export controls impacting services revenue, the company remains optimistic about growth prospects in this area [46][48] Future Outlook - Applied Materials forecasts a $1 trillion semiconductor industry by 2030, with expectations to grow faster than the overall industry due to increasing complexity in equipment and materials engineering innovations [16][17] - The company is cautious about 2024 forecasts but expects a recovery in memory and stable demand in ICAPs [17][18] Additional Important Insights - The company emphasizes a collaborative approach with customers to drive innovation and address future technology needs [24][30] - The services business is seen as a stable cash flow source, with subscription agreements contributing to financial stability [41][42]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 29, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-06920 Applied Materials, Inc. (Exact name of registrant as specified in its charter) Delaware 94-1655526 (State or other juris ...

Applied Materials, Inc. (NASDAQ:AMAT) Q1 2023 Results Conference Call February 16, 2023 4:30 PM ET Company Participants Michael Sullivan - Corporate VP Gary Dickerson - President and CEO Brice Hill - CFO Conference Call Participants C.J. Muse - Evercore ISI Stacy Rasgon - Bernstein Vivek Arya - Bank of America Krish Sankar - Cowen Atif Malik - Citi Toshiya Hari - Goldman Sachs Timothy Arcuri - UBS Harlan Sur - JP Morgan Joe Quatrochi - Wells Fargo Sidney Ho - Deutsche Bank Quinn Bolton - Needham Mehdi Hosse ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark one) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended October 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-06920 Applied Materials, Inc. (Exact name of registrant as specified in its charter) Delaware 94-1655526 (State or o ...

Applied Materials, Inc. (NASDAQ:AMAT) Wells Fargo 6th Annual TMT Summit Conference November 30, 2022 12:20 PM ET Company Participants Brice Hill - CFO Conference Call Participants Joe Quatrochi - Wells Fargo Joe Quatrochi Great. So we'll go ahead and started. I'm Joe Quatrochi, the semi cap equipment analyst here at Wells Fargo. Excited to have Brice Hill, CFO of Applied Materials with us for this fireside chat. Brice, thanks for joining us. Brice Hill Awesome. Thanks for inviting me, and glad to be here. Q ...