Applied Materials (AMAT) official guidance

Finally, we are modeling a non-GAAP tax rate of around 11% and a tax rate of around 13% in 2027 as we absorb the effect of the global minimum tax.

Finally, we are modeling a non-GAAP tax rate of around 11% and a tax rate of around 13% in 2027 as we absorb the effect of the global minimum tax.

We expect non-GAAP EPS of $4.02 ±$0.20, which is up 85% year-over-year.

We expect non-GAAP gross margin to be approximately 50.4% in Q4, up 230 basis points year-over-year, and we expect non-GAAP operating expenses of around $1.58 billion.

We expect non-GAAP gross margin to be approximately 50.4% in Q4, up 230 basis points year-over-year, and we expect non-GAAP operating expenses of around $1.58 billion.

Within this outlook, we expect semiconductor systems revenue of around $7.9 billion, up 62% year-over-year, AGS revenue of about $1.84 billion, up 22% year-over-year, and other revenue of around $510 million, composed primarily of display revenue.

Within this outlook, we expect semiconductor systems revenue of around $7.9 billion, up 62% year-over-year, AGS revenue of about $1.84 billion, up 22% year-over-year, and other revenue of around $510 million, composed primarily of display revenue.

Within this outlook, we expect semiconductor systems revenue of around $7.9 billion, up 62% year-over-year, AGS revenue of about $1.84 billion, up 22% year-over-year, and other revenue of around $510 million, composed primarily of display revenue.

We expect company revenue of $10.25 billion ±$500 million, which is up 51% year-over-year.

We now expect AGS to grow more than 20% in calendar 2026 and to deliver a sustainable long-term annual growth rate in the mid-teens.

We now expect our China revenue to increase this calendar year, led by investments in 28 nanometer foundry logic, where Applied has strong technology differentiation and share.

We do think that ICAPS overall will grow this year and will grow next year.

We now expect our overall packaging revenues to grow more than 70% in calendar 2026.

For modeling purposes, we now expect other revenue to be approximately $400 million per quarter on average through 2027.

Finally, we're modeling a non-GAAP tax rate of around 11%.

We expect non-GAAP EPS of $3.36, ±$0.20, which is up nearly 36% year-over-year.

We expect non-GAAP gross margin to increase modestly to approximately 50.1%, and we expect non-GAAP operating expenses of around $1.485 billion.

We expect non-GAAP gross margin to increase modestly to approximately 50.1%, and we expect non-GAAP operating expenses of around $1.485 billion.

Within this outlook, we expect Semiconductor Systems revenue of around $6.9 billion, AGS revenue of about $1.75 billion, and other revenue of around $300 million.

We expect company revenue of $8.95 billion, ±$500 million, which is up nearly 23% year-over-year.