Applied Materials (AMAT) Stock Price vs Operating Income
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In the year ending April 2026, Applied Materials' Operating Income grew 16.3% to $2.5 billion compared to $2.2 billion in Q2 2025, while the stock price surged 172% from $151.55 to $417.04 over the same period. This stock appreciation significantly outpaced the operating income growth, indicating valuation expansion. The 0.84 correlation between operating income and stock price over the full 46-year window demonstrates a strong historical relationship, though the recent divergence reflects the market assigning a higher multiple to each dollar of earnings. As of June 2, 2026, the stock traded at $483.48, further extended from the most recent reported operating income.
Operating Income was $2.5B as of 2026-04-26, +16% year over year. The stock moved +175% over the same window ($151.55 -> $417.04). The stock is now more richly valued relative to Operating Income than a year ago (multiple expansion).
Latest close: 483.14 USD (2026-06-02).
Operating Income | recent SEC reports
| Report date | Operating Income | Period |
|---|
| 2026-04-26 | 2.5B USD | Q2 10-Q |
| 2026-01-25 | 1.8B USD | Q1 10-Q |
| 2025-07-27 | 2.2B USD | Q3 10-Q |
| 2025-04-27 | 2.2B USD | Q2 10-Q |
| 2025-01-26 | 2.2B USD | Q1 10-Q |
| 2024-07-28 | 1.9B USD | Q3 10-Q |
| 2024-04-28 | 1.9B USD | Q2 10-Q |
| 2024-01-28 | 2.0B USD | Q1 10-Q |
Sources: autario.com/data/stock-amat-applied-materials-daily-prices · autario.com/data/applied-materials-operating-income-sec-filings | data verified and hosted on autario.com.