On August 14, Applied Materials fell 4.22% in after-hours trading, trading at $522.81 per share, with turnover of $176 million.

On the news front, Applied Materials reported fiscal Q3 adjusted earnings per share of $3.50, beating the analyst consensus estimate of $3.40 by 2.94%, representing a 41.13% year-over-year increase from $2.48 per share in the prior-year period. Revenue came in at $9.115 billion, surpassing the consensus estimate of $8.991 billion. Despite the double beat on both top and bottom lines, the stock experienced after-hours selling pressure in a classic profit-taking pattern.

The decline follows a period of sustained upward momentum heading into the report. Multiple institutions had raised price targets in prior weeks, with Bernstein lifting its target to $675 from $525, while the average analyst target stood at $646. The stock had gained over 3% on multiple sessions in the lead-up as expectations built around AI-driven semiconductor equipment demand, NAND recovery, and advanced packaging expansion. The after-hours retreat suggests investors had already priced in the strong results during the pre-earnings rally.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)