Applied Materials saw its stock surge 15% in a single trading session, but it remains 30% below its all-time highs. The semiconductor equipment giant posted record revenue of $7.91 billion in Q2 FY2026, up 11% year-over-year, with non-GAAP EPS of $2.86, up 20%. This record performance is driven by explosive demand for semiconductors used in AI chips, DRAM, and advanced packaging technologies. The company is scheduled to report Q3 results on August 13, with analysts forecasting EPS of $3.38. Investments in semiconductor manufacturing capacity directly impact the cost and efficiency of cryptocurrency mining hardware.
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