Cover and table of contents

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Cover and table of contents

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

(Mark One)

☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended July 28, 2024

or

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 000-06920

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Applied Materials, Inc.

(Exact name of registrant as specified in its charter)

Delaware94-1655526
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

3050 Bowers Avenue, P.O. Box 58039, Santa Clara, California 95052-8039

(Address of principal executive offices) (Zip Code*)*

Registrant’s telephone number, including area code: (408) 727-5555

Securities registered pursuant to Section 12(b) of the Act:

Title of Each ClassTrading SymbolName of Each Exchange on Which Registered
Common Stock, par value $.01 per shareAMATThe NASDAQ Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☑Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

Number of shares outstanding of the issuer’s common stock as of July 28, 2024: 824,404,088

APPLIED MATERIALS, INC.

FORM 10-Q FOR THE QUARTERLY PERIOD ENDED JULY 28, 2024

TABLE OF CONTENTS

Page
PART I. FINANCIAL INFORMATION
Item 1:Financial Statements (Unaudited)3
Consolidated Condensed Statements of Operations for the Three and Nine Months Ended July 28, 2024 and July 30, 20233
Consolidated Condensed Statements of Comprehensive Income for the Three and Nine Months Ended July 28, 2024 and July 30, 20234
Consolidated Condensed Balance Sheets as of July 28, 2024 and October 29, 20235
Consolidated Condensed Statements of Stockholders’ Equity for the Three and Nine Months Ended July 28, 2024 and July 30, 20236
Consolidated Condensed Statements of Cash Flows for the Nine Months Ended July 28, 2024 and July 30, 20238
Notes to Consolidated Condensed Financial Statements9
Item 2:Management’s Discussion and Analysis of Financial Condition and Results of Operations33
Item 3:Quantitative and Qualitative Disclosures About Market Risk46
Item 4:Controls and Procedures47
PART II. OTHER INFORMATION
Item 1:Legal Proceedings48
Item 1A:Risk Factors49
Item 2:Unregistered Sales of Equity Securities and Use of Proceeds63
Item 3:Default Upon Senior Securities63
Item 4:Mine Safety Disclosures63
Item 5:Other Information63
Item 6:Exhibits64
Signatures65

PART I. FINANCIAL INFORMATION

Next: Item 1. Financial Statements