New York, Feb 6, 2026, 19:30 ET — After-hours
- Applied Materials finished Friday’s session up 6.1%, adding to gains from the previous two-day bounce.
- Chip stocks shot higher, helping push the Dow past 50,000 for the first time, as investors zeroed in on fresh signs of AI-driven spending.
- Applied’s earnings are due Feb. 12, while U.S. jobs and inflation data also land next week—potential catalysts for shifting rate expectations.
Applied Materials (AMAT) climbed 6.1% to finish at $322.51 on Friday. After the bell, shares slipped just 0.1%, changing hands at $322.28 by 7:17 p.m. ET in extended trading. 1
Stocks snapped back hard, with chipmakers surging. The Dow finished north of 50,000 for the first time ever. Over in semis, the Philadelphia SE Semiconductor index soared 5.7% as traders zeroed in on new signs of ramped-up AI capital spending. 2
The stakes are high as markets try to make sense of the trade-off: yes, ramped-up AI spending drives up demand for chips and chipmaking equipment, but that ramp-up also squeezes tech margins and pushes up valuations. “Rotation is the dominant theme this year,” said Angelo Kourkafas, senior global investment strategist at Edward Jones. With expectations already sky-high, there’s not much tolerance for disappointment. Investors are also on alert for the upcoming U.S. jobs numbers and the CPI release next week—potential wildcards for rate sentiment. 3
Applied finished the day trailing some of Friday’s bigger semiconductor winners, but still beat the broader market. Broadcom jumped 7.2%, AMD climbed 8.3%, and Qualcomm picked up 0.8%. Trading in Applied was heavier than its 50-day average, according to MarketWatch data. 4
Chip-equipment stocks followed suit. Lam Research jumped 8.3% on Friday, while KLA tacked on 8.4%. 5
Macro cross-currents remain in focus. The University of Michigan’s latest survey found consumer sentiment at its strongest since last August. Inflation expectations, though, edged higher, and it was mostly high-income households driving the gains. 6
Still, there are straightforward ways this situation could unravel. Applied has been dealing with stricter U.S. export rules related to China, and has flagged a likely drop in Chinese demand for chipmaking gear in 2026 as the restrictions make themselves felt. The company also contends some international competitors don’t face the same level of hurdles. 7
Plenty on the docket for next week. The Bureau of Labor Statistics lists the January Employment Situation for release Wednesday, Feb. 11, 8:30 a.m. ET. January CPI follows on Friday, Feb. 13, also at 8:30 a.m. ET. 8
Earnings are the next key event for Applied. The company plans to release its fiscal first-quarter numbers this Thursday, Feb. 12. Management’s conference call is on the books for 4:30 p.m. ET, per a company statement. 9
That report goes into the mix as traders look ahead to next week’s jobs and inflation data. AMAT probably stays in the spotlight as a stand-in for both the semis and rate story—at least until management drops fresh numbers.
