New York, Feb 18, 2026, 18:02 (EST) — After-hours
- Applied Materials finished the session at $369.30, up 2.8%. That’s just shy of its 52-week peak from last week—less than 2% away.
- U.S. stocks got a boost from AI-driven buying, with semiconductor equipment stocks still grabbing attention.
- Investors have their eyes on product briefings scheduled for late February, plus a series of conference appearances lined up in March.
Applied Materials climbed 2.8% to close at $369.30 Wednesday, putting the chip-equipment name within 1.9% of its Feb. 13 52-week peak. Trading volume topped the 50-day average, with the stock notching a third consecutive advance.
Chip stocks and AI-exposed names lifted Wall Street, following news that Meta Platforms struck a long-term deal to tap Nvidia chips in its AI data centers, a clear win for Nvidia. That ripple effect is worth noting for Applied, since major AI infrastructure pushes usually begin with chipmaker capex and filter through to demand for wafer-fab tools—the equipment that actually produces the chips.
Next week, traders are circling Nvidia’s fourth-quarter results call, set for Wednesday, Feb. 25 at 2 p.m. PT (5 p.m. ET). The numbers could jolt sentiment up and down the semiconductor supply chain, pulling in equipment makers as well.
Applied kicked things off last week, projecting second-quarter revenue around $7.65 billion, give or take $500 million, and an adjusted profit target of $2.64 per share, with a 20-cent swing either way. CEO Gary Dickerson called the outlook “fueled by the acceleration of industry investments in AI computing.” Morningstar’s William Kerwin echoed that sentiment: “Artificial intelligence infrastructure demand is immense, and supply is scarce.” Reuters
Some issues remain. On Feb. 11, Applied revealed it will pay $252.5 million to the U.S. Commerce Department’s Bureau of Industry and Security, resolving a probe related to shipments to certain China customers. The settlement also requires Applied to conduct internal audits and keep up with export-compliance training and reporting.
Applied on Tuesday lined up two conference appearances: Semiconductor Products Group president Prabu Raja is set for Morgan Stanley’s Technology, Media & Telecom Conference on March 2, while CFO Brice Hill is scheduled to address Cantor Fitzgerald’s Global Technology & Industrial Growth Conference on March 10. Webcasts for both events, the company said, will be available.
There’s something nearer on the calendar, too. During the earnings call, management pointed to new product briefings coming up at the SPIE Lithography and Patterning conference in San Jose on Feb. 24. Hill, for his part, told listeners he was “excited that our business is accelerating.” Investing
Housekeeping at the corporate level is coming up. Applied has its annual meeting scheduled for March 12 at the Santa Clara headquarters, according to a recent proxy statement.
There’s a risk that tighter export rules or prolonged licensing could push China demand further out. Applied has already warned that spending on chipmaking equipment in China is set to decline in 2026, citing stricter U.S. export controls that restrict market access.
The rally faces its next test right after Wednesday’s close. First up: SPIE product briefings land Feb. 24, then Nvidia drops results on Feb. 25. Both could sway how traders size up 2026 tool demand heading into next week.
