Skip to contentHome page Seeking Alpha - Power to InvestorsApr 17, 2026, 8:16 PM ETApplied Materials, Inc. (AMAT) StockHimalayas Research1.09K FollowersCommentsApplied Materials is rated Buy, leveraging AI-driven wafer fab equipment demand and structural industry tailwinds for robust earnings growth.AMAT's forward P/E of 32x is below peer averages, justified by accelerating EPS growth and exposure to high-margin DRAM/HBM and GAA logic nodes.Record Q1 FY2026 gross margin (49%) and strong DRAM segment performance highlight operational leverage and product leadership in advanced semiconductor manufacturing.Key risks include U.S. export controls impacting China revenue (~$710M in FY2026E) and ongoing cyclical volatility, but AGS provides counter-cyclical stability.Sundry Photography/iStock Editorial via Getty ImagesApplied Materials, Inc. (AMAT) has returned a stellar ~185% in the past year, beating the semiconductor industry (SMH), which returned ~135% in the same period. The stock isn't cheap in absolute and relativeThis article was written byHimalayas Research1.09K FollowersBuyside analyst covering global stocks on Seeking Alpha since 2018. I've been investing personally and professionally across major equity markets for about a decade. Subscribe for equity research and trading ideas.Opinions are not qualified investment or trading advice. Please do your own due diligence.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.Disclaimer: All research, figures, and interpretation are provided on a best-effort basis only and may be subject to error. Any view, opinion, or analysis does not constitute as investment or trading advice; please do your own due diligence.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.CommentsTo ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.Is this happening to you frequently? Please report it on our feedback forum.If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.