10 Large-Cap Stocks That Are On Fire Right Now

8. Applied Materials, Inc. (NASDAQ:AMAT)

YTD Return as of April 27: 50.5%

On April 27, Erste Group upgraded Applied Materials, Inc. (NASDAQ:AMAT) to Buy from Hold. The analyst pointed to the ongoing buildout in AI. Investment is flowing into advanced semiconductors, next-generation DRAM, and newer technologies. Applied “supplies the production machinery for this and benefits from it.”

During the Q1 2026 earnings call, Brice Hill, Senior VP and CFO, shared expectations for the next quarter. The company expects Q2 revenue of about $7.65 billion, with a possible swing of $500 million. That implies roughly 9% sequential growth. Non-GAAP EPS is projected at $2.64, with a margin of $0.20 on either side. By segment, Semiconductor Systems revenue is expected to come in at $5.8 billion. Applied Global Services is projected at around $1.6 billion. Other revenue is estimated at approximately $250 million. Hill also said non-GAAP gross margin should improve to about 49.3%.

Separately, Gary Dickerson, President and CEO, pointed to continued momentum beyond the near term. He suggested the company sees its growth trajectory extending into 2027.

Applied Materials, Inc. (NASDAQ:AMAT) provides materials engineering solutions, including equipment, services, and software for the semiconductor, display, and related industries. The company operates through two segments: Semiconductor Systems and Applied Global Services (AGS).