Applied Materials Shares Jump 5% Following Strong Forecast & Earnings

Microchip services giant Applied Materials, Inc. (NASDAQ:AMAT) offered a much-better-than-expected fiscal Q4 forecast following a very solid Q3 earnings report.

The Santa Clara-based company posted fiscal Q3 adjusted net income of $0.50 per share, beating out Wall Street estimates of $0.48. Revenue jumped 13.3% from last year to $2.82 billion, and were roughly in-line with analyst expectations.

Looking ahead, AMAT forecast Q4 EPS of $0.61 to $0.69, which is well above the consensus analyst estimate for just $0.48. Revenue guidance was also significantly higher than expected, at $3.2 to $3.36 billion, versus analysts’ view of $2.86 billion.

From the press release:

“With earnings and orders at an all-time high, Applied is performing better than ever and in a great position to sustainably outperform our markets,” said Gary Dickerson, president and CEO. “We are in the early stages of large, multi-year industry inflections that are driving our business today and creating new opportunities for future growth.”


Investors are reacting very positively to the company’s big forecast. Applied Materials shares rose $1.37 (+4.95%) to $29.05 in after-hours trading.

Today’s aftermarket gains will add to an already impressive year so far for the stock. Prior to today’s report, AMAT had already gained 48% year-to-date, more than six times the return of the benchmark S&P 500 in the same period.

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