Applied Materials, Inc. (NASDAQ:AMAT) Goldman Sachs Communacopia + Technology Conference 2025 September 9, 2025 1:50 PM EDT
Company Participants
Gary Dickerson – President, CEO & Executive Director
Conference Call Participants
James Schneider – Goldman Sachs Group, Inc., Research Division
Presentation
James Schneider
Senior Research Analyst
Good morning, everybody. Welcome to the Goldman Sachs Communacopia Technology Conference. My name is Jim Schneider. I’m the semiconductor analyst here at Goldman Sachs. It’s my pleasure to welcome Applied Materials and CEO, Gary Dickerson on to the stage today.
Welcome, Gary.
Gary Dickerson
President, CEO & Executive Director
Thank you, Jim. Happy to be here.
Question-and-Answer Session
James Schneider
Goldman Sachs Group, Inc., Research Division
Thanks for being here.
Maybe just kind of given your long-standing experience in this industry, you’ve seen many industry cycles. You’ve been Chair — at the helm of Applied since 2013. It seems to me over the last 5 years, there’s been some really confluence of secular and cyclical dynamics in the industry for semi-cap, a series of onshoring initiatives globally, U.S., Europe, Japan, China. At the same time, we’ve seen a number of technology changes from gate-all-around logic to 3D memory structures and the like. During the earnings call last month, you guided your October core revenue below the street. I’ve gotten an increasing number of investor questions asking whether this could be or signal the top of a down cycle. I’d love to get your perspective on whether you believe that’s the case or not.
Gary Dickerson
President, CEO & Executive Director
Yes. So I would say that for Applied, we’ve grown revenue. This will be the sixth year in a row. We’re on track for the sixth consecutive year of revenue growth. And in terms of the industry, AI is the biggest inflection of our lifetimes. AI and robotics, I think, are the biggest productivity
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