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.

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.

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.

As customers find new ways to reallocate or create space, we are seeing incremental requests for equipment deliveries in 2026. We now expect our semiconductor equipment business will grow more than 30% this calendar year.

As a result, we expect Applied Global Services to deliver a sustainable annual growth rate in the mid-teens and potentially higher this year.

Finally, we are now modeling a non-GAAP tax rate of around 11%.

We expect non-GAAP EPS of $2.64 and plus or minus $0.20.

In ICAPS, customers who serve the IoT, communications, automotive, power and sensor markets, we expect wafer fab equipment to be approximately flat year-on-year, both globally and in China.

In NAND, we are forecasting modest growth in equipment demand in 2026 and we expect NAND to remain less than 10% of wafer fab equipment spending.

We expect non-GAAP gross margin to increase to approximately 49.3%.

We expect non-GAAP operating expenses of around $1.415 billion.

Within this outlook, we expect Semiconductor Systems revenue of around $5.8 billion, AGS revenue of about $1.6 billion and Other revenue of around $250 million.

One example of this is our unique cold field emission eBeam technology where we expect revenues to double this calendar year to more than $1 billion and support process diagnostics and control, being one of our fastest-growing businesses in 2026.

With the accelerated growth of AI end markets, we believe that global semiconductor industry revenues can potentially reach $1 trillion in 2026, several years earlier than prior predictions.

Within this outlook, we expect Semiconductor Systems revenue of around $5.8 billion, AGS revenue of about $1.6 billion and Other revenue of around $250 million.

Within this outlook, we expect Semiconductor Systems revenue of around $5.8 billion, AGS revenue of about $1.6 billion and Other revenue of around $250 million.

We expect company revenue of $7.65 billion, plus or minus $500 million, which should be up around 9% sequentially.

Finally, we are modeling a tax rate of around 13%.

We expect company revenue of $6.85 billion+ or -$500 million, and non-GAAP EPS of $2.18+ or -$0.20.

We currently expect non-GAAP gross margin to be approximately 48.4% in Q1 and remain at that level until volumes ramp to support higher demand beginning in the second half of the calendar year.

Non-GAAP operating expenses should be around $1.33 billion, which is up only slightly from fiscal Q4 because the actions we recently took are mostly offsetting the increase we normally see in Q1 due to the timing of annual merit increases and equity compensation expenses.

AGS should generate revenue of around $1.52 billion.

Corporate and other revenue should be around $305 million, composed primarily of display revenue.

Within this outlook, we expect semiconductor systems revenue of around $5.025 billion.

We expect company revenue of $6.85 billion+ or -$500 million, and non-GAAP EPS of $2.18+ or -$0.20.

The $600 million is still a good estimate for what is in the rest of 2026.

In addition, Applied currently expects that the impact of the BIS Affiliates Rule will reduce its net revenue for fiscal 2026 by approximately $600 million.

Applied currently estimates that the impact of the BIS Affiliates Rule will reduce its net revenue for the fourth quarter of fiscal 2025 by approximately $110 million.