New York, February 12, 2026, 18:49 EST — After-hours
Applied Materials (AMAT.O) shares jumped in after-hours trading on Thursday after the chipmaking equipment supplier topped quarterly estimates and issued a stronger-than-expected forecast. The stock was up 13.3% at $371.97 as of 6:30 p.m. ET, after closing down 3.4% at $328.39, according to Public market data. (Public)
The report lands at a touchy moment for semiconductor stocks, with investors trying to separate short-term supply tightness from a real, durable upshift in spending tied to artificial intelligence.
Applied is one of the first big U.S. chip-tool makers to put numbers on that theme this quarter. Its guidance often spills into peers because it touches the same customer budgets for new fabs and upgrades.
Applied forecast second-quarter sales of about $7.65 billion, plus or minus $500 million, above the $7.01 billion estimate, and adjusted profit of about $2.64 a share, plus or minus 20 cents, above the $2.28 estimate, Reuters reported. Chief executive Gary Dickerson said the results were “fueled by the acceleration of industry investments in AI computing,” and highlighted high-bandwidth memory — a stacked form of DRAM used alongside AI processors — and advanced packaging as growth drivers. “Memory and logic-foundry capex growth are two sides of the same coin,” said Rothschild & Co. Redburn analyst Timm Schulze-Melander; peers Lam Research and KLA rose nearly 3% after the bell. (Reuters)
For the quarter ended Jan. 25, Applied reported revenue of $7.01 billion and adjusted earnings of $2.38 per share, with GAAP earnings of $2.54 per share. Dickerson said demand for “higher performance and more energy-efficient chips” is lifting leading-edge logic and memory, while CFO Brice Hill said the company has “nearly doubled” system manufacturing capability and built inventories to meet demand. Applied generated $1.69 billion in operating cash flow and returned $702 million via buybacks and dividends. (GlobeNewswire)
The upbeat outlook followed fresh headlines on an export-controls case that has hovered over the stock. The U.S. Commerce Department said Applied illegally exported ion implanters — critical tools used in chip production — to China’s Semiconductor Manufacturing International Corp on 56 occasions in 2021 and 2022, with goods valued at about $126 million. Applied agreed to pay $252 million, which the department said is the maximum penalty allowed by law. (Reuters)
In an 8-K filing, Applied said the Justice Department and the Securities and Exchange Commission have closed their inquiries without enforcement action. The filing said Applied entered a settlement agreement with the Commerce Department’s Bureau of Industry and Security on Feb. 11 and will pay $252.5 million in a one-time payment, alongside internal audits and compliance training. (SEC)
Applied said the settlement resolves BIS allegations that certain shipments to China between Nov. 2020 and July 2022 did not comply with U.S. export rules, which the company attributed to a misunderstanding of how the rules applied. It said it is focused on executing its technology roadmap with the matter closed. (GlobeNewswire)
Separately, Applied said Samsung Electronics will join its $5 billion EPIC Center in Silicon Valley, a collaborative research facility the company says is aimed at shortening the path from R&D to manufacturing. “The global buildout of AI infrastructure is driving unprecedented demand for energy-efficient chips,” Dickerson said, while Samsung Vice Chairman and CEO Young Hyun Jun said the two companies plan to deepen technical collaboration at the center, which Applied said is on track to be operational in spring 2026. (GlobeNewswire)
Still, the after-hours pop sets up a test for Friday’s session. Tool demand can cool quickly if memory prices soften or chipmakers trim capital budgets, and Washington’s export rules remain a swing factor for sales tied to China. Extended-hours trading is also thinner, so early moves do not always hold.
Investors will now look for details on how fast high-bandwidth memory and advanced packaging orders can ramp. Applied’s investor relations chief told the earnings call it will host new product briefings on Feb. 24 at the SPIE Lithography and Patterning conference in San Jose. (Investing)
