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20:30
May 14 ◎

AMAT FY2026 Q2 Watch

Applied Materials, Inc. (AMAT) FY2026 Q2 Earnings Call

TSM MU 005930.KS 000660.KS 6857.T ▾

Gary Dickerson

TSMC is a founding partner in AMAT's EPIC platform, indicating deep co-development ties and likely early access to AMAT's next-gen tools.

"Earlier this week, we announced our EPIC co-development engagement with TSMC, who joined as a founding partner together with Micron, Samsung, and SK Hynix."

TSM WATCH

Gary Dickerson

Micron's role as a founding partner signals close collaboration on DRAM and memory roadmap inflections.

"Earlier this week, we announced our EPIC co-development engagement with TSMC, who joined as a founding partner together with Micron, Samsung, and SK Hynix."

MU WATCH

Gary Dickerson

Samsung is a founding EPIC partner, indicating close alignment on memory and foundry technology roadmaps.

"Earlier this week, we announced our EPIC co-development engagement with TSMC, who joined as a founding partner together with Micron, Samsung, and SK Hynix."

005930.KS WATCH

Gary Dickerson

SK Hynix is a founding EPIC partner, likely co-developing HBM and advanced packaging technologies with AMAT.

"Earlier this week, we announced our EPIC co-development engagement with TSMC, who joined as a founding partner together with Micron, Samsung, and SK Hynix."

000660.KS WATCH

Gary Dickerson

The development partnership with Advantest indicates collaboration on integrated test and process solutions for advanced packaging.

"as well as a development partner agreement with Advantest."

6857.T WATCH

Gary Dickerson

Management raised WFE growth to 30%+ for the year, guided Q3 revenue up ~23% YoY, and expressed confidence in continued growth into 2027 and beyond.

"With rising demand and increasing long-term visibility from customers, we see an exceptionally strong foundation for sustained multi-year revenue and profit growth."

AMAT WATCH

Bryce Hill

AMAT stated 2027 will be another strong record year for the industry, with a similar growth profile for leading-edge logic, DRAM, and advanced packaging. — This is a strong secular growth signal for the entire WFE supply chain, suggesting investment cycles may be longer than a single up-year.

"And based on our latest discussions with them, we expect 2027 will be another strong record year for the industry."

LRCX WATCH KLAC WATCH

HIGH

21:30
Feb 12 ◎

AMAT FY2026 Q1 Watch

Applied Materials, Inc. (AMAT) FY2026 Q1 Earnings Call

000660.KS 005930.KS NVDA MU ANDURIL ▾

Gary Dickerson

HBM DRAM demand is driving wafer start growth for companies like SK hynix, which directly benefits AMAT's DRAM equipment business.

"In DRAM, customers are aggressively adding capacity at six F squared nodes while in parallel developing next generation DRAM device architectures."

000660.KS WATCH

Gary Dickerson

The EPIC agreement deepens AMAT's co-innovation relationship with Samsung, potentially leading to earlier design wins and faster technology adoption.

"This week, we also announced our first EPIC co-development agreement with Samsung Electronics."

005930.KS WATCH

Gary Dickerson

The AI infrastructure buildout, driven by NVIDIA's platforms, is a primary growth driver for AMAT's leading-edge logic, HBM DRAM, and advanced packaging businesses.

"AI is at a tipping point where improvements in performance and cost translate to real-world applications that deliver meaningful productivity gains and return on investment for users."

NVDA WATCH

Gary Dickerson

HBM's higher wafer start requirements compared to standard DRAM is a significant tailwind for AMAT's equipment revenue from memory makers like Micron.

"High-bandwidth memory DRAM, which has larger die sizes and requires three to four times more wafer starts per delivered bit than standard DRAM."

MU WATCH

Gary Dickerson

Flat ICAPS spending suggests limited immediate direct impact from defense-focused chip demand, though indirect demand from AI data centers could alter projections.

"In ICAPS, customers who serve the IoT, communications, automotive, power, and sensor markets, we expect wafer fab equipment to be approximately flat year on year."

ANDURIL WATCH

Gary Dickerson

Company guidance is strongly bullish, driven by accelerating AI infrastructure investment and AMAT's leadership in leading-edge logic, HBM DRAM, and advanced packaging, with momentum expected to carry into 2027.

"We expect to grow our semiconductor equipment business more than 20% this calendar year."

AMAT WATCH

Gary Dickerson

Management noted that the data center segment will surpass smartphones in leading-edge wafer starts by 2029 and is growing at 30-40% CAGR, indicating that the traditional PC/smartphone cycle is being de-emphasized in favor of a more secular AI-driven TAM expansion. — This reinforces the notion that AI capex is not just a temporary bubble but a fundamental demand driver that could sustain WFE growth for years, rewarding suppliers who are positioned in the data center supply chain.

"Leading edge Foundry logic and DRAM capacity is essentially full and prices have increased."

TSM WATCH

HIGH

21:30
Nov 13 ◎

AMAT FY2025 Q4 Watch

Applied Materials, Inc. (AMAT) FY2025 Q4 Earnings Call

005930.KS AMAT NVDA TSM ASML ▾

Gary Dickerson

Record revenue in Korea points to strong investment from memory and foundry customers like Samsung, particularly in DRAM and HBM technologies.

"we posted record revenue in both Taiwan and Korea"

005930.KS WATCH

Gary Dickerson

Management expects 2026 to be another record year, driven by favorable spending mix in leading-edge logic, DRAM, and advanced packaging, with a significant growth inflection expected in the second half of calendar 2026.

"we expect the spending mix to play more to applied strengths with leading edge foundry logic, DRAM, and advanced packaging being the fastest growing areas of the market"

AMAT WATCH

Gary Dickerson

Management confirms NVIDIA's massive AI infrastructure projections are driving customer demand visibility and capacity planning across the semiconductor supply chain.

"the world has clearly changed since NVIDIA reported August 26th and discussed $3 to $4 trillion in AI infrastructure spending"

NVDA WATCH

Gary Dickerson

Record revenue in Taiwan indicates strong demand from leading-edge foundry customers, likely including TSMC, supporting the bullish outlook for foundry logic spending.

"we posted record revenue in both Taiwan and Korea"

TSM WATCH

Bryce Hill

Management reveals they are getting more than one year, sometimes two years, of demand visibility from customers for advanced fab ramps. — Longer lead-time visibility suggests a high-confidence, sustained up-cycle in advanced semiconductor capex, likely benefiting the entire equipment supply chain.

"we'll just admit, I think we've been wrong for two years in a row, forecasting a digestion related to China, and it's been stronger each year."

ASML WATCH LRCX WATCH

HIGH

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