NEW YORK, Feb 8, 2026, 15:08 EST — The market has closed.
Applied Materials, Inc. jumped 6.09% Friday, closing out the session at $322.51. Trading picked up—about 8.2 million shares changed hands, topping the 50-day moving average of 7.3 million. Still, the stock remains roughly 6% off its 52-week peak of $344.60 from Jan. 29. After hours, the last print showed $321.67. 1
Shares bounced, riding the wave of a wider chip surge that followed Amazon’s disclosure of plans to boost capital expenditures by more than 50%. That’s money aimed at long-term investments like data centers. Alphabet also pointed to increased spending. “There’s enough evidence that there’s real demand for AI products,” said Ross Mayfield, investment strategy analyst at Baird. 2
This shift puts Thursday’s results and guidance front and center for Applied, just as investors are weighing whether a fresh round of spending is actually coming or just hype. Applied, known for its wafer fabrication equipment—the essential tools for chipmakers expanding or overhauling plants—sees order volumes bounce around sharply whenever customers pull back on spending.
Moves were sharper elsewhere. Lam Research jumped 8.30% Friday. Synopsys tacked on 4.01% during the session. 3
Semiconductor stocks caught a bid after Nvidia CEO Jensen Huang described AI chip demand as “going through the roof,” a remark that gave the whole sector a jolt. 4
Applied’s fiscal first-quarter report drops after the bell Feb. 12. Refinitiv data shows analysts are looking for earnings to land near $2.21 per share, per the earnings calendar posted this weekend. 5
Macro factors may end up shaping the trade. S&P Global Market Intelligence noted the January U.S. jobs report is now slated for Feb. 11, while the January CPI — the headline inflation number — won’t appear until Feb. 13, both delays triggered by a federal government shutdown. 6
Federal Reserve Vice Chair Philip Jefferson voiced cautious optimism about the U.S. economy on Friday, underscoring that future policy decisions will depend on incoming data. The key rate remains at 3.50%-3.75%. 7
For Applied, geopolitics—not demand—looms largest heading into earnings. The company’s been clear: tighter U.S. export controls could hit its China business hard. It previously estimated that broader restrictions might shave about $600 million off fiscal 2026 revenue. CEO Gary Dickerson has also flagged that when U.S. companies get blocked, overseas competitors are quick to move in. 8
Investors are keen to catch any change in how management sees chipmakers’ factory spending, or signals that more business is slipping to suppliers outside the U.S. If the outlook turns cautious, expect the stock to take a bigger hit than it would from just a slight quarterly miss.
Thursday brings results, with the conference call set for 4:30 p.m. ET right after. 9
