Applied Materials (AMAT) investors have an important date approaching. The semiconductor-equipment maker is scheduled to report its fiscal third-quarter results on Aug. 13, giving Wall Street its next major test of whether the artificial intelligence (AI) spending cycle is translating into stronger financial results.
AMAT stock has already delivered a huge rally in 2026. Shares have more than doubled year-to-date (YTD), although the stock remains 28% below its record high of $739.67 reached on June 30. The rally comes with growing expectations for semiconductor manufacturing equipment as chipmakers increase spending on AI processors, memory, and advanced packaging.