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APPLIED MATERIALS INC /DE

Nasdaq: AMAT·Santa Clara, California·

Price
$417.40
Base IV
$118.37
Your value
$118.37
-71.6%

Valuation snapshot

Above bull caseOut of date
$417.40
price, off scale
$118.37
base IV/share
Bear $71.59Bull $167.75

Price is above even the bull case. Price as of Sep 18, 2026 · Valuation Aug 12, 2026.

Researched bygpt-5.6-sol

Track record

Reported financials are not available yet.

Why the gap?

At $417.40 the market is pricing APPLIED MATERIALS INC /DE as if revenue grows 46.2% a year. This valuation assumes it grows 10.5% a year. That single disagreement accounts for most of the distance between the two numbers — which makes it the first thing worth auditing.

Implied by price

+46.2%

revenue growth a year, holding everything else researched

Assumed here

+10.5%

researched base case, grounded in filings and guidance

Many combinations of assumptions reproduce the same price. These are ways to read what the market might expect, not its actual view.

Your valuation

Four judgments stand between the filing and a number. Audit them one at a time and leave with a valuation that is yours.

  • 01 Revenue growth22.0%
  • 02 Operating margin32.0%
  • 03 Risk and beta1.57
  • 04 Long-run growth2.5%
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What drives the base case

All three cases →

Demand for AI computing is directing customer spending toward leading-edge logic, advanced memory and packaging, where Applied Materials says it has strong positions. The service business adds a steadier stream of spares and subscription revenue as the installed equipment base grows. Growth slows after the current expansion, but pricing, manufacturing productivity and a richer product mix allow the company to preserve most of its recent profit improvement.

What shapes the assumptions

No structured value drivers are attached to this valuation yet.

How confident is this estimate?

Quality checks
61/100Moderate

Some of any gap to the price is model uncertainty rather than real disagreement. Start with the weakest components.

  • Scenario dispersion5.9
  • Terminal-value dependency3.2
  • Historical stability5.1
  • Margin predictability8.9

Why the number moved

Sequential bridge

The base case moved from $115.94 to $118.37 as filings, assumptions, and market inputs changed.

  • Revenue forecast—
  • Operating-margin assumption—
  • Tax-rate assumption—
  • Reinvestment assumption—
  • Terminal-growth assumption—

Explore StockValuer's full research

All cases, evidence, value drivers, sensitivity, quality checks, and calculation detail.

Financials

Reported quarters with derived margins, cash flow, and net cash.

Methodology

How reported facts, researched judgments and deterministic math are kept apart.

Base estimate

$118.37 -71.6%

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