Applied Materials (AMAT) Live: Complete Earnings Day Coverage

Applied Materials (Nasdaq: AMAT) heads into its Q2 2025 earnings report with momentum on its side. The stock has gained +19.72% over the past month and is now up +6.27% year-to-date, rebounding from a steep Q1 correction. Wall Street expects earnings per share (EPS) of $2.31 on revenue of $7.12 billion. That compares to $2.09 EPS a year ago, suggesting modest YoY expansion despite a challenging macro backdrop for semiconductor capital equipment.

The company has beaten EPS estimates in each of the last four quarters, including a Q1 beat of $0.10 ($2.38 actual vs. $2.28 est). Yet, shares have sold off post-earnings in every instance — including an 8.2% decline after the Q1 print — as investor focus shifts to forward guidance and long-cycle order trends.

Despite subdued short interest (2.04% of float) and recent buying, AMAT still faces elevated expectations. Investors will be watching for commentary on wafer fab equipment demand, memory recovery, and AI-related orders — particularly as peers like ASML have highlighted cyclical troughing and early signs of capex reacceleration.

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