Applied Materials (AMAT) is trading down at $518.27 (-2.26%) on NASDAQ, as of the latest quote. It is a S&P 500 constituent in the Information Technology sector.
Analyst price targets on AMAT
Current price targets from 2 firms average $707, ranging from $563 to $850 — 36% above the current $518. Each is tracked to its date and scored the same way a member's call is.
- Morgan Stanley $512 → $563 by Sep 2027 Sep 29, 2026 via Yahoo Finance · Morgan Stanley's track record
- Cantor Fitzgerald $507 → $850 by Aug 2027 Aug 14, 2026 via Investing.com · Cantor Fitzgerald's track record
Targets published by research firms, extracted from the news, checked against independent reporting, and linked to their source. Where a firm did not state a horizon the target is tracked as 12 months, the industry convention; the rows where the firm set its own horizon are marked. Reported here as facts about what was published — not recommendations from Dalsna Finance, and no firm listed is affiliated with this site.
Applied Materials revenue & net income history (FY2016–FY2025)
| FY2016Oct 2016 | FY2017Oct 2017 | FY2018Oct 2018 | FY2019Oct 2019 | FY2020Oct 2020 | FY2021Oct 2021 | FY2022Oct 2022 | FY2023Oct 2023 | FY2024Oct 2024 | FY2025Oct 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $10.8B | $14.7B | $16.7B | $14.6B | $17.2B | $23.1B | $25.8B | $26.5B | $27.2B | $28.4B |
| Growth (year over year) | +12.1% | +35.8% | +13.7% | −12.6% | +17.8% | +34.1% | +11.8% | +2.8% | +2.5% | +4.4% |
| Gross profit | $4.51B | $6.61B | $7.52B | $6.39B | $7.69B | $10.9B | $12.0B | $12.4B | $12.9B | $13.8B |
| Gross margin | 41.7% | 45.0% | 45.0% | 43.7% | 44.7% | 47.3% | 46.5% | 46.7% | 47.5% | 48.7% |
| Operating income | $2.15B | $3.94B | $4.49B | $3.35B | $4.37B | $6.89B | $7.79B | $7.65B | $7.87B | $8.29B |
| Operating margin | 19.9% | 26.8% | 26.9% | 22.9% | 25.4% | 29.9% | 30.2% | 28.9% | 28.9% | 29.2% |
| Net income | $1.72B | $3.52B | $3.04B | $2.71B | $3.62B | $5.89B | $6.53B | $6.86B | $7.18B | $7.00B |
| Net margin | 15.9% | 23.9% | 18.2% | 18.5% | 21.0% | 25.5% | 25.3% | 25.9% | 26.4% | 24.7% |
| EPS (diluted) | $1.54 | $3.25 | $2.96 | $2.86 | $3.92 | $6.40 | $7.44 | $8.11 | $8.61 | $8.66 |
| Balance sheet | ||||||||||
| Cash and equivalents | $3.41B | $5.01B | $3.44B | $3.13B | $5.35B | $5.00B | $2.00B | $6.13B | $8.02B | $7.24B |
| Total assets | $14.6B | $19.4B | $17.6B | $19.0B | $22.4B | $25.8B | $26.7B | $30.7B | $34.4B | $36.3B |
| Total liabilities | $7.35B | $10.1B | $10.8B | $10.8B | $11.8B | $13.6B | $14.5B | $14.4B | $15.4B | $15.9B |
| Long-term debt | $3.13B | $5.30B | $5.31B | $4.71B | $5.45B | $5.45B | $5.46B | $5.46B | $5.46B | $6.46B |
| Shareholders' equity | $7.41B | $9.63B | $6.84B | $8.21B | $10.6B | $12.2B | $12.2B | $16.3B | $19.0B | $20.4B |
| Cash flow | ||||||||||
| Operating cash flow | $2.57B | $3.79B | $3.79B | $3.25B | $3.80B | $5.44B | $5.40B | $8.70B | $8.68B | $7.96B |
| Capital expenditure | $253.0M | $345.0M | $622.0M | $441.0M | $422.0M | $668.0M | $787.0M | $1.11B | $1.19B | $2.26B |
| Free cash flow | $2.31B | $3.44B | $3.17B | $2.81B | $3.38B | $4.77B | $4.61B | $7.59B | $7.49B | $5.70B |
| Dividends paid | $444.0M | $430.0M | $605.0M | $771.0M | $787.0M | $838.0M | $873.0M | $975.0M | $1.19B | $1.38B |
| Share buybacks | $1.89B | $1.17B | $5.28B | $2.40B | $649.0M | $3.75B | $6.10B | $2.19B | $3.82B | $4.89B |
| Q4 FY24†Oct 2024 | Q1 FY25Jan 2025 | Q2 FY25Apr 2025 | Q3 FY25Jul 2025 | Q4 FY25†Oct 2025 | Q1 FY26Jan 2026 | Q2 FY26Apr 2026 | Q3 FY26Jul 2026 | |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $7.04B | $7.17B | $7.10B | $7.30B | $6.80B | $7.01B | $7.91B | $9.12B |
| Growth (year over year) | +4.8% | +6.8% | +6.8% | +7.7% | −3.5% | −2.1% | +11.4% | +24.8% |
| Gross profit | $3.33B | $3.50B | $3.48B | $3.56B | $3.27B | $3.44B | $3.95B | $4.59B |
| Gross margin | 47.3% | 48.8% | 49.1% | 48.8% | 48.0% | 49.0% | 49.9% | 50.3% |
| Operating income | $2.05B | $2.17B | $2.17B | $2.23B | $1.71B | $1.83B | $2.52B | $3.08B |
| Operating margin | 29.0% | 30.4% | 30.5% | 30.6% | 25.2% | 26.1% | 31.9% | 33.7% |
| Net income | $1.73B | $1.19B | $2.14B | $1.78B | $1.90B | $2.03B | $2.81B | $2.54B |
| Net margin | 24.6% | 16.5% | 30.1% | 24.4% | 27.9% | 28.9% | 35.5% | 27.8% |
| EPS (diluted) | $2.09 | $1.45 | $2.63 | $2.22 | $2.36 | $2.54 | $3.51 | $3.17 |
| Balance sheet | ||||||||
| Cash and equivalents | $8.02B | $6.26B | $6.17B | $5.38B | $7.24B | $7.22B | $6.30B | $7.04B |
| Total assets | $34.4B | $33.3B | $33.6B | $34.2B | $36.3B | $37.6B | $40.3B | $43.5B |
| Total liabilities | $15.4B | $14.7B | $14.7B | $14.7B | $15.9B | $15.9B | $16.4B | $17.9B |
| Long-term debt | $5.46B | $5.46B | $5.46B | $5.46B | $6.46B | $6.45B | $5.26B | $5.25B |
| Shareholders' equity | $19.0B | $18.6B | $19.0B | $19.5B | $20.4B | $21.7B | $23.9B | $25.6B |
| Cash flow | ||||||||
| Operating cash flow | $2.58B | $925.0M | $1.57B | $2.63B | $2.83B | $1.69B | $845.0M | $3.04B |
| Capital expenditure | $407.0M | $381.0M | $510.0M | $584.0M | $785.0M | $646.0M | $635.0M | $707.0M |
| Free cash flow | $2.17B | $544.0M | $1.06B | $2.05B | $2.04B | $1.04B | $210.0M | $2.33B |
| Dividends paid | $329.0M | $326.0M | $325.0M | $368.0M | $365.0M | $365.0M | $365.0M | $420.0M |
| Share buybacks | $1.44B | $1.32B | $1.67B | $1.06B | $851.0M | $337.0M | $400.0M | $440.0M |
From Applied Materials's 10-K and 10-Q filings with the SEC; its fiscal year ends in October. Each period shows the latest figure the company has reported for it, including restatements. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →
About Applied Materials
Applied Materials, Inc. is an American corporation that supplies equipment, services and software for the manufacture of semiconductor chips for electronics, flat panel displays for computers, smartphones, televisions, and solar products. The company also supplies equipment to produce coatings for flexible electronics, packaging and other applications. The company is headquartered in Santa Clara, California, and is the second largest supplier of semiconductor equipment in the world based on revenue behind Dutch company ASML.
Source: Wikipedia — Applied Materials
- Headquarters
- Santa Clara, California From SEC filings, Oct 2026
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