Applied Materials hits record $9.1 billion Q3 revenue, closes gap on Qualcomm

Applied Materials generates most of its revenue by making and servicing the specialized equipment that global customers use to fabricate integrated circuits. The company recently introduced six new manufacturing systems and expanded its research network by engaging with the University of California, Berkeley. Qualcomm, which earns most of its revenue from wireless network chips and patent licensing, unveiled the Dragonfly hardware brand for data centers and acquired an AI software company.

The article's revenue table shows Applied Materials' quarterly sales rising from $7.0 billion in the quarter ended Oct. 27, 2024 to $9.1 billion in the quarter ended July 26, 2026. Qualcomm's sales over the same period moved from $10.2 billion to $9.9 billion, with steady quarter-over-quarter declines in 2026. The Foolish Take attributes Applied Materials' growth to AI infrastructure demand and Qualcomm's decline to a maturing mobile device market, noting that Qualcomm's shift toward AI data centers appears to be gaining traction.