Applied Materials Inc

AMAT remains in a Stage 4 distribution phase with persistent lower highs and lower lows below declining EMAs, and although a Bearish Exhaustion pattern at the recent low and OS context hint at a potential bounce, the medium-term bias remains bearish. Execution should be deferred until rallies into the 460–475 EMA resistance zone for structurally favorable sell-side interaction.

• ↑Q3 FY26 revenue $9.12B (+25% YoY) and non-GAAP EPS $3.50 (+41% YoY).
• ↑Q4 guidance set at $10.25B revenue (+51% YoY), underscoring robust AI demand.
• ↓Negative earnings yield and low book-to-price imply overvaluation risk.