The following is Dolphin Research's transcript of AMAT FY26 Q2 earnings call. For our takeaways, see 'Capex Boom Underway: Can AMAT Capture the Windfall?'.

Applied Materials (AMAT) posted its FY26 Q2 results (quarter ended Apr 2026) after hours early May 15 (Beijing time), with the following highlights: 1) Core metrics: revenue of $7.9bn (+11% YoY), beating the Street at $7.7bn, driven by AI compute infrastructure build-out that lifted demand for advanced logic, DRAM, and advanced packaging tools. $Applied Materials(AMAT.US) GPM was 49.9%, up 90bps QoQ...

Below is Dolphin Research's AMAT FY26 Q1 earnings call Trans. For our earnings take, see 'AMAT: Capex super-cycle is here; it's springtime for WFE'.

Applied Materials (AMAT.O) posted FY2026 Q1 results (quarter ended Jan 2026) after hours on Feb 13 Beijing time; highlights as follows: 1) Core metrics: $Applied Materials(AMAT.US) reported revenue of $7.0bn, down 2% YoY and in line with consensus (~$7.0bn), reflecting a tough comp in the semi equipment biz last year.

Dolphin Research’s prior deep dive on AMAT outlined the company’s core product lines and its positioning across key equipment sub-sectors.

As $Applied Materials(AMAT.US) operates in semiconductor equipment at the top of the value chain, its demand is highly sensitive to upstream investment cycles.

The following are the minutes of the AMAT FY2025 Q4 earnings call organized by Dolphin Research. For an interpretation of the earnings report, please refer to the article titled 'Storage is 'Red Hot', Can Applied Materials (AMAT) Benefit?' 1. $Applied Materials(AMAT.US) Key Financial Data Review Revenue: FY2025 revenue grew by 4% to $28.4 billion; Q4 revenue exceeded the midpoint of expectations. Revenue by business segment: Semiconductor Systems revenue grew by 4%. Applied Global Services (AGS) revenue grew by 3% to $6.4 billion...

Applied Materials (AMAT.O) released its financial report for the fourth quarter of fiscal year 2025 (ending October 2025) after the U.S. stock market closed on the morning of November 14, 2025, Beijing time. The key points are as follows: 1. Core Data: Applied Materials AMAT's revenue for this quarter was $6.8 billion, a year-on-year decrease of 3.5%, slightly better than market expectations ($6.68 billion). This was mainly due to the decline in the semiconductor equipment business, especially the increased proportion of restricted demand for logic-related products in regions such as China. $Applied Materials(AMAT.US) had a gross margin of 48% this quarter, an increase of 0.7 percentage points year-on-year...

Applied Materials (AMAT.O) is a veteran company in the U.S. semiconductor industry, founded in 1967, and remains one of the leaders in the global semiconductor equipment industry. If we extend the timeline, Applied Materials AMAT is undoubtedly a long-term bull company and has always been an important part of the semiconductor supply chain. After more than 50 years of industry ups and downs, why has Applied Materials been able to remain 'evergreen' and maintain a market capitalization above $100 billion? Dolphin Research will review $Applied Materials(AMAT.US) from the aspects of development history, product capabilities, industry status, and business conditions...