New York, March 2, 2026, 19:13 EST — After-hours
- AMAT slipped around 0.1% in after-hours, last changing hands at $372.18
- Management is set to appear at Morgan Stanley’s TMT conference and Cantor Fitzgerald this March 10, a date investors have circled.
- Chip-equipment stocks are still at the mercy of two wildcards: how AI shapes memory demand, and the latest U.S.-China export restrictions.
Applied Materials slipped roughly 0.1% to $372.18 after hours Monday, following a flat finish in the main session. Shares bounced between $368.68 and $372.79 during the day.
Investors often use the chipmaking-equipment maker as a read-through for wafer-fab equipment spending—the machinery behind chip production. If customers ramp up or pull back on orders, the company’s shares usually reflect that shift almost immediately.
That’s a big deal right now: investors are counting on an AI-driven buildout to keep chip factory investments up. High-bandwidth memory, or HBM—stacked DRAM that sits next to AI processors—has seen demand jump, and that can quickly filter through to tool orders for suppliers.
Applied on Feb. 17 announced that its semiconductor-products head, Prabu Raja, is scheduled for a spot at Morgan Stanley’s Technology, Media & Telecom conference Monday. CFO Brice Hill lands on Cantor Fitzgerald’s Global Technology & Industrial Growth conference agenda for March 10. Both talks? The company says they’ll be webcast live, with replays available later that same day.
Chip-equipment stocks took different paths by the end of the session. Lam Research slipped 1.24%, but KLA managed to gain roughly 0.7%. The S&P 500 closed up, but only slightly.
Applied shares remain far below their Feb. 25 record close of $394.95, even after last week’s buying sent the stock to a new 52-week high.
Applied shares surged after its mid-February guidance, as the company forecast quarterly numbers that topped expectations, crediting AI spending and a tightening memory market. CEO Gary Dickerson described the outlook as “fueled by the acceleration” of industry investment in AI computing. Morningstar’s William Kerwin, for his part, pointed to “a massive wafer fabrication equipment growth cycle” ahead. Reuters
On its post-earnings call, Applied said it sees DRAM — dynamic random access memory — as its fastest-growing area in 2026. The company also pointed to more 3D “chiplet” stacking on the horizon, a packaging technique connecting smaller chip blocks that’s become standard in AI chips. Reuters
China isn’t off the radar. Applied shelled out $252 million to resolve U.S. claims over unauthorized exports of chipmaking gear to SMIC—licenses missing. Export curbs continue to cap what American equipment makers can send to China.
On Tuesday, traders are eyeing whether Raja’s Morgan Stanley remarks spark any continued moves, alongside fresh signals on memory and foundry outlays across chip names. Next up: Hill joins a Cantor Fitzgerald fireside chat set for March 10.
