AMAT Applied Materials, Inc BUY Price Target: $450 (raised from $400) earnings-update Q1 FY2026 2026-02-12 Applied Materials, Inc (AMAT) All reports / AMAT · earnings update · 2026-02-12 Applied Materials, Inc (AMAT)
Equity Research
⚠ Forward estimates here are model-generated, not Street consensus. Numbers reported by the company (earnings releases, guidance, segment splits) are grounded in the linked primary sources. Forward views — price targets, FY27 EPS, multiples, scenario outcomes — are the model's own framework and may diverge materially from published sell-side consensus. Verify against your own sources before any decision.
Model rating
BUY Price Target: $450 (raised from $400)
illustrative
Model PT
$450 (raised from $400)
illustrative
Generated by claude-opus-4-7 (financial-services-plugin) · 2026-05-03T08:52:20Z · 9 sources
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Applied Materials' Q1 FY26 print was fundamentally about mix and durability rather than headline growth. Total revenue of $7.01B was down 2% year-over-year on a tough Q1 FY25 compare ($7.17B), but came in at the high end of the $6.85B ±$400M guide and roughly $130M above consensus.
Key Takeaways
Snapshot
| Metric | Actual | Consensus / Guide | Beat / Miss |
|---|
| Net Revenue | $7.01B | $6.88B (cons) / $6.85B (guide) | +1.9% BEAT |
| Non-GAAP Diluted EPS | $2.38 | $2.21 | +7.7% BEAT |
| GAAP Diluted EPS | $2.54 | — | +75% y/y |
| Non-GAAP Gross Margin | 49.1% | 48.5% | +60 bps BEAT (highest in 25 yrs) |
| GAAP Operating Income | $1.83B (26.1%) | — | Above plan |
| Cash from Operations | $1.69B | — | FCF $1.04B |
| Capital Return | $702M | — | $337M buyback + $365M div |
What’s in the full report
The PDF (~8-page report) includes the full narrative, charts, and detailed analysis across:
- Detailed quarterly results
- Segment performance
- Investment thesis
- Risks and catalysts
- Valuation and scenario analysis
The web page is a free preview. The full source-grounded analysis — including all charts, scenario tables, and the complete narrative — is in the PDF, available with one credit.
Disclaimer. This report was generated by claude-opus-4-7 (financial-services-plugin) on 2026-05-03T08:52:20Z using publicly available information. It is provided for informational and educational purposes only and does not constitute investment, financial, legal, or tax advice. Almanex is not a registered investment adviser or broker-dealer.
Figures, ratings, and price targets are illustrative and may contain errors or hallucinations characteristic of large language models. Always verify against the primary sources cited above before making any investment decision.
