Applied Materials Forecasts Revenue Growth in China Amidst US Export Restrictions

PALO ALTO, California — Applied Materials, a leading U.S.-based manufacturer of semiconductor fabrication equipment, announced record-breaking earnings on Thursday. The company has raised its revenue projections for 2026, fueled by intense global demand for semiconductors essential to the rapid expansion of AI infrastructure. The surge in semiconductor requirements is expected to significantly boost production needs through 2026, despite ongoing regulatory challenges and export controls.

Applied Materials reported a record $9.12 billion in total revenue during the May-July quarter driven by strong AI demand.  © Reuters

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