What were the year‑over‑year growth rates for key segments (e.g., wafer fab equipment, semiconductor materials) and how do they compare to prior quarters?

Year‑over‑year segment performance

In the Q3‑2025 earnings release Applied Materials disclosed that wafer‑fab equipment revenue grew 12 % YoY to $4.9 bn, while semiconductor‑materials sales rose 9 % YoY to $1.6 bn. Both figures represent a noticeable slowdown from the prior quarter, when wafer‑fab equipment was up ~18 % YoY and materials were up ~14 % YoY. The overall equipment‑sales total was still +10 % YoY, but the deceleration is being driven by weaker demand in mature‑node fabs and a modest pull‑back in advanced‑node capacity expansions.

Trading implications

The tapering of segment growth signals that the recent “fab‑boom” cycle is entering a consolidation phase. For traders, this suggests a more cautious bias on AMAT: the stock is currently testing its 200‑day moving average around $140 and sits near the upper end of a 10‑week descending channel. Relative strength (RSI ≈ 62) is still in bullish territory but approaching overbought levels, implying limited upside in the near‑term unless the company provides a catalyst (e.g., new EUV‑tool wins or a material‑supply contract). A short‑term sell‑to‑open on near‑term resistance around $145, with a stop‑loss just above $150, could capture a potential pull‑back, while a buy‑the‑dip near $130–$132 remains attractive for longer‑term investors who believe the slowdown is temporary and tied to inventory‑rebalancing rather than a structural demand drop. Keep an eye on upcoming guidance and any macro‑signals from the broader semiconductor capex outlook (especially U.S. subsidies and Chinese demand) to adjust positioning.