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Santa Clara, California-based Applied Materials, Inc. (AMAT) provides materials engineering solutions, equipment, services, and software to the semiconductor and related industries in the United States and internationally. The company has a market cap of $320.2 billion and operates through Semiconductor Systems and Applied Global Services (AGS) segments.

AMAT is expected to release its Q2 2026 earnings on Thursday, May 14, after the market closes. Ahead of the event, analysts expect the company’s EPS to be $2.66 on a diluted basis, up 11.3% from $2.39 in the year-ago quarter. The company has exceeded Wall Street’s EPS estimates in each of its last four quarters.

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For fiscal 2026, analysts project the company’s EPS to be $11.10, up 17.8% from $9.42 in fiscal 2025. Moreover, its EPS is expected to rise by roughly 26.4% year over year (YoY) to $14.03 in fiscal 2027.

AMAT stock has surged 181.3% over the past 52 weeks, outperforming the S&P 500 Index’s ($SPX) 32.2% rise and the State Street Technology Select Sector SPDR ETF’s (XLK) 57.4% rise during the same time frame.

On Feb. 13, AMAT stock rose 8.1% following the release of its better-than-expected Q1 2026 earnings. The company’s revenue fell 2% from the prior year’s quarter to $7 billion, but surpassed the Street’s estimates. Moreover, its adjusted EPS amounted to $2.38, also coming in on top of Wall Street’s forecasts. Management credited the impressive results to the acceleration of industry investments in AI computing. AMAT expects revenue in the range of $7.15 billion to $8.15 billion for the fiscal second quarter.

Analysts are strongly bullish about AMAT, with the stock having a “Strong Buy” rating overall. Among the 37 analysts covering the stock, 25 are recommending a “Strong Buy,” four suggest a “Moderate Buy,” and eight suggest a “Hold.” AMAT’s average analyst price target of $409.59 offers a 1.4% upside potential.

On the date of publication, Aritra Gangopadhyay did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com