Applied Materials reported record third-quarter fiscal 2026 revenue of $9.12 billion, beating analyst estimates by $130 million, with adjusted EPS of $3.50. The company raised its annual growth outlook for its Semiconductor Systems division, driven by unprecedented demand for AI infrastructure. Despite the strong results, the stock fell approximately 5% in premarket trading as investors fretted about risks tied to US export restrictions on chip technology sales to China. Analysts remained solidly bullish, with 39 analysts maintaining a Strong Buy consensus and an average price target around $633.
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