12 Best Tech Stocks that Beat Earnings Estimates

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

Recent Earnings Report: Q1 EPS $2.38, consensus $2.21

Number of Hedge Fund Holders: 89

On February 13, 2026, Morgan Stanley analyst Shane Brett raised the price target on Applied Materials, Inc. (NASDAQ:AMAT) to $420 from $364 and kept an Overweight rating. Shane Brett said a beat-and-raise quarter, combined with 20%+ systems guidance, marks a leap toward shifting the narrative around the stock in a more constructive direction.

Also on February 13, 2026, RBC Capital raised its price target to $430 from $385 and maintained an Outperform rating. RBC said results were driven by a healthy WFE environment and secular technology trends, adding that China share loss concerns are overdone and that double-digit topline momentum is expected to continue into 2027 despite slower mature node demand. Goldman Sachs analyst James Schneider likewise raised his price target on February 13, 2026, to $390 from $310 and kept a Buy rating, pointing to a strong quarter and above-Street guidance. James Schneider noted management is projecting over 20% growth for the semiconductor equipment business in CY26, supported by spending on foundry and logic, DRAM, and advanced packaging, along with mix-related benefits.

On February 12, 2026, Applied Materials reported Q1 revenue of $7.01B versus consensus of $6.88B. CEO Gary Dickerson said the company “delivered strong results in our fiscal first quarter,” driven by accelerating AI computing investments. He highlighted demand for higher performance and more energy-efficient chips and said the company expects to grow its semiconductor equipment business more than 20 percent this calendar year.

Applied Materials, Inc. (NASDAQ:AMAT) provides materials engineering solutions, equipment, services, and software to the semiconductor and related industries globally and operates through Semiconductor Systems and Applied Global Services segments.