# Chip Equipment Stocks Rally as Applied Materials Leads

> Applied Materials jumps 11% ahead of earnings as chip equipment stocks surge.
- Title: Chip Equipment Stocks Rally as Applied Materials Leads
- Summary: Applied Materials jumps 11% ahead of earnings as chip equipment stocks surge. Applied Materials stock rose 11% to $370.81 before earnings, while Lam Research…
- Keywords: applied materials, lam research, asml, chip equipment, ai demand, wafer fabrication equipment, 2027 outlook, stock price, 24/7 Wall St.
- Source: 24/7 Wall St. — https://247wallst.com/investing/2026/11/09/applied-materials-jumps-11-ahead-of-earnings-lam-research-surges-9-asml-rises-6
- Author: David Moadel
- Published: 2026-11-09T17:58:10+00:00
- Read time: 1 min
- Topics: applied materials, lam research, asml, chip equipment, ai demand, wafer fabrication equipment, 2027 outlook, stock price
## Chip Equipment Stocks Rally
Chipmaking equipment stocks are surging as investors return to AI shares after last week's post-midterm selloff.
## Applied Materials Leads Rally
Applied Materials stock rose 11% to $370.81 in afternoon trading ahead of its November 12 earnings report.
## Earnings Guidance
Applied Materials guided to $10.25 billion revenue and $4.02 non-GAAP EPS for Q4 FY2026, with 87.1% year-over-year growth.
## Lam Research Boost
Lam Research stock rose 9% after announcing a $25 billion share repurchase authorization on November 5.
## ASML Rises 6%
ASML stock climbed 6% following a full-year 2026 sales outlook increase to €44 billion to €45 billion.
## 2027 Outlook
Applied Materials forecasts strong growth in 2027 for leading-edge foundry-logic, DRAM, and advanced packaging tools.
## Market Multiples
Applied Materials trades at 18x forward earnings, the lowest multiple among the four chip equipment peers.
## Risks Ahead
China export controls and clean-room availability could limit Applied Materials' 2027 production capacity.
## Key takeaway

Applied Materials stock rose 11% to $370.81 before earnings, while Lam Research and ASML also gained, driven by strong AI demand forecasts for 2027.