0000006951FALSEAPPLIED MATERIALS INC /DE00000069512024-11-142024-11-14


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________________________________________
FORM 8-K
 ____________________________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 14, 2024
____________________________________________________________________
 Applied Materials, Inc.
(Exact name of registrant as specified in its charter)
____________________________________________________________________
Delaware000-0692094-1655526
(State or other jurisdiction of incorporation)(Commission File Number)(IRS Employer Identification No.)
3050 Bowers Avenue
P.O. Box 58039
Santa Clara, CA 95052-8039
(Address of principal executive offices)

Registrant’s telephone number, including area code: (408) 727-5555
N/A
(Former name or former address, if changed since last report.)
 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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 is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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).   ☐



Item 2.02 Results of Operations and Financial Condition.
On November 14, 2024, Applied Materials, Inc. (“Applied Materials”) announced its financial results for its fourth quarter and fiscal year ended October 27, 2024. A copy of Applied Materials’ press release is attached hereto as Exhibit 99.1.
The information in this Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liability under that section, and shall not be deemed to be incorporated by reference in any filing of Applied Materials under the Securities Act of 1933, as amended, or the Exchange Act, unless expressly incorporated by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.Description
99.1
104Cover Page Interactive Data File (formatted as inline XBRL)
 



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Applied Materials, Inc.
 (Registrant)
  
Date:November 14, 2024By:/s/ Teri A. Little
Teri A. Little
Senior Vice President, Chief Legal Officer
and Corporate Secretary
 





Exhibit 99.1
applied_prlogoxcmykblueres.jpg

APPLIED MATERIALS ANNOUNCES FOURTH QUARTER AND FISCAL YEAR 2024 RESULTS
•Quarterly revenue $7.05 billion, up 5 percent year over year
•Quarterly GAAP EPS $2.09 and non-GAAP EPS $2.32, down 12 percent and up 9 percent year over year, respectively
•Annual revenue $27.18 billion, up 2 percent year over year
•Annual GAAP EPS $8.61 and non-GAAP EPS $8.65, up 6 percent and 7 percent year over year, respectively
SANTA CLARA, Calif., Nov. 14, 2024 — Applied Materials, Inc. (NASDAQ: AMAT) today reported results for its fourth quarter and fiscal year ended Oct. 27, 2024.
Fourth Quarter Results
Applied generated record revenue of $7.05 billion. On a GAAP basis, the company reported gross margin of 47.3 percent, record operating income of $2.05 billion or 29.0 percent of net revenue, and earnings per share (EPS) of $2.09.
On a non-GAAP basis, the company reported gross margin of 47.5 percent, record operating income of $2.06 billion or 29.3 percent of net revenue, and record EPS of $2.32.
The company generated $2.58 billion in cash from operations and distributed $1.77 billion to shareholders including $1.44 billion in share repurchases and $329 million in dividends.
Full Year Results
In fiscal 2024, Applied generated record revenue of $27.18 billion. On a GAAP basis, the company recorded gross margin of 47.5 percent, record operating income of $7.87 billion or 28.9 percent of net sales, and record EPS of $8.61.
On a non-GAAP adjusted basis, the company reported gross margin of 47.6 percent, record operating income of $7.92 billion or 29.2 percent of net sales, and record EPS of $8.65.
The company generated a $8.68 billion in cash from operations and distributed $5.01 billion to shareholders including $3.82 billion in share repurchases and $1.19 billion in dividends.
“Applied Materials’ technology leadership and strong execution drove record Q4 and fiscal 2024 performance, our fifth consecutive year of growth,” said Gary Dickerson, President and CEO. “Our portfolio of products and services uniquely positions us to enable our customers in their pursuit of AI and energy-efficient computing. As these key drivers of semiconductor innovation continue to grow in importance, the industry’s roadmap is becoming increasingly dependent on materials engineering, where Applied is the clear leader.”

Applied Materials, Inc.
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Results Summary
Change
Q4 FY2024Q4 FY2023FY2024FY2023Q4 FY2024
vs.
Q4 FY2023		FY2024
vs.
FY2023
(In millions, except per share amounts and percentages)
Net revenue$7,045 $6,723 $27,176 $26,517 5%2%
Gross margin47.3 %47.1 %47.5 %46.7 %0.2 points0.8 points
Operating margin29.0 %29.3 %28.9 %28.9 %(0.3) points—
Net income$1,731 $2,004 $7,177 $6,856 (14)%5%
Diluted earnings per share$2.09 $2.38 $8.61 $8.11 (12)%6%
Non-GAAP Results
Non-GAAP gross margin47.5 %47.3 %47.6 %46.8 %0.2 points0.8 points
Non-GAAP operating margin29.3 %29.5 %29.2 %29.1 %(0.2) points0.1 points
Non-GAAP net income$1,917 $1,786 $7,210 $6,802 7%6%
Non-GAAP diluted EPS$2.32 $2.12 $8.65 $8.05 9%7%
Non-GAAP free cash flow$2,168 $1,246 $7,487 $7,594 74%(1)%

A reconciliation of the GAAP and non-GAAP results is provided in the financial tables included in this release. See also “Use of Non-GAAP Financial Measures” section.


Applied Materials, Inc.
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Business Outlook
In the first quarter of fiscal 2025, Applied expects net revenue to be approximately $7.15 billion, plus or minus $400 million. Non-GAAP diluted EPS is expected to be approximately $2.29, plus or minus $0.18.
This outlook for non-GAAP diluted EPS excludes known charges related to completed acquisitions of $0.01 per share and includes a net income tax benefit related to intra-entity intangible asset transfers of $0.09 per share, but does not reflect any items that are unknown at this time, such as any additional charges related to acquisitions or other non-operational or unusual items, as well as other tax-related items, which we are not able to predict without unreasonable efforts due to their inherent uncertainty.
Fourth Quarter and Fiscal Year Reportable Segment Information
Effective in the first quarter of fiscal 2024, management began including share-based compensation expense in the evaluation of reportable segments' performance. Prior-year numbers have been recast to conform to the current-year presentation.
Semiconductor SystemsQ4 FY2024Q4 FY2023FY2024FY2023
 (In millions, except percentages)
Net revenue$5,177 $4,883 $19,911 $19,698 
Foundry, logic and other73 %69 %68 %77 %
DRAM23 %27 %28 %17 %
Flash memory4 %4 %4 %6 %
Operating income$1,824 $1,741 $6,981 $6,879 
Operating margin35.2 %35.7 %35.1 %34.9 %
Non-GAAP Results
Non-GAAP operating income$1,834 $1,751 $7,021 $6,918 
Non-GAAP operating margin35.4 %35.9 %35.3 %35.1 %
Applied Global ServicesQ4 FY2024Q4 FY2023FY2024FY2023
 (In millions, except percentages)
Net revenue$1,639 $1,471 $6,225 $5,732 
Operating income$492 $401 $1,812 $1,529 
Operating margin30.0 %27.3 %29.1 %26.7 %
Non-GAAP Results
Non-GAAP operating income$492 $401 $1,812 $1,529 
Non-GAAP operating margin30.0 %27.3 %29.1 %26.7 %
DisplayQ4 FY2024Q4 FY2023FY2024FY2023
 (In millions, except percentages)
Net revenue$211 $298 $885 $868 
Operating income$5 $63 $51 $114 
Operating margin2.4 %21.1 %5.8 %13.1 %
Non-GAAP Results
Non-GAAP operating income$5 $63 $51 $114 
Non-GAAP operating margin2.4 %21.1 %5.8 %13.1 %


Applied Materials, Inc.
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Corporate and Other
(In millions)Q4 FY2024Q4 FY2023FY2024FY2023
Unallocated net revenue$18 $71 $155 $219 
Unallocated cost of products sold and expenses(293)(305)(1,132)(1,087)
Total $(275)$(234)$(977)$(868)
Use of Non-GAAP Financial Measures
Applied provides investors with certain non-GAAP financial measures, which are adjusted for the impact of certain costs, expenses, gains and losses, including certain items related to mergers and acquisitions; restructuring and severance charges and any associated adjustments; impairments of assets; gain or loss, dividends and impairments on strategic investments; certain income tax items and other discrete adjustments. On a non-GAAP basis, the tax effect related to share-based compensation is recognized ratably over the fiscal year. Reconciliations of these non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are provided in the financial tables included in this release.
Management uses these non-GAAP financial measures to evaluate the company’s operating and financial performance and for planning purposes, and as performance measures in its executive compensation program. Applied believes these measures enhance an overall understanding of its performance and investors’ ability to review the company’s business from the same perspective as the company’s management, and facilitate comparisons of this period’s results with prior periods on a consistent basis by excluding items that management does not believe are indicative of Applied's ongoing operating performance. There are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles, may be different from non-GAAP financial measures used by other companies, and may exclude certain items that may have a material impact upon our reported financial results. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP.
Webcast Information
Applied Materials will discuss these results during an earnings call that begins at 1:30 p.m. Pacific Time today. A live webcast and related slide presentation will be available at https://ir.appliedmaterials.com. A replay will be available on the website beginning at 5:00 p.m. Pacific Time today.

Applied Materials, Inc.
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Forward-Looking Statements
This press release contains forward-looking statements, including those regarding anticipated growth and trends in our businesses and markets, industry outlooks and demand drivers, technology transitions, our business and financial performance and market share positions, our capital allocation and cash deployment strategies, our investment and growth strategies, our development of new products and technologies, our business outlook for the first quarter of fiscal 2025 and beyond, and other statements that are not historical facts. These statements and their underlying assumptions are subject to risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those expressed or implied by such statements include, without limitation: the level of demand for our products; global economic, political and industry conditions, including changes in interest rates and prices for goods and services; the implementation of additional export regulations and license requirements and their interpretation, and their impact on our ability to export products and provide services to customers and on our results of operations; global trade issues and changes in trade and export license policies and our ability to obtain licenses or authorizations on a timely basis, if at all; the effects of geopolitical turmoil or conflicts; demand for semiconductor chips and electronic devices; customers’ technology and capacity requirements; the introduction of new and innovative technologies, and the timing of technology transitions; our ability to develop, deliver and support new products and technologies; our ability to meet customer demand, and our suppliers' ability to meet our demand requirements; the concentrated nature of our customer base; our ability to expand our current markets, increase market share and develop new markets; market acceptance of existing and newly developed products; our ability to obtain and protect intellectual property rights in key technologies; cybersecurity incidents affecting our information systems or information contained in them, or affecting our operations, suppliers, customers or vendors; our ability to achieve the objectives of operational and strategic initiatives, align our resources and cost structure with business conditions, and attract, motivate and retain key employees; the effects of regional or global health epidemics; acquisitions, investments and divestitures; changes in income tax laws; the variability of operating expenses and results among products and segments, and our ability to accurately forecast future results, market conditions, customer requirements and business needs; our ability to ensure compliance with applicable law, rules and regulations and other risks and uncertainties described in our SEC filings, including our recent Forms 10-Q and 8-K. All forward-looking statements are based on management’s current estimates, projections and assumptions, and we assume no obligation to update them.
About Applied Materials
Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com.
Contact:
Ricky Gradwohl (editorial/media) 408.235.4676
Liz Morali (financial community) 408.986.7977


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APPLIED MATERIALS, INC.
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
 
 Three Months EndedTwelve Months Ended
(In millions, except per share amounts)October 27,
2024		October 29,
2023		October 27,
2024		October 29,
2023
Net revenue$7,045 $6,723 $27,176 $26,517 
Cost of products sold3,710 3,554 14,279 14,133 
Gross profit3,335 3,169 12,897 12,384 
Operating expenses:
Research, development and engineering858 789 3,233 3,102 
Marketing and selling215 192 836 776 
General and administrative216 217 961 852 
Total operating expenses1,289 1,198 5,030 4,730 
Income from operations2,046 1,971 7,867 7,654 
Interest expense66 58 247 238 
Interest and other income (expense), net(85)259 532 300 
Income before income taxes1,895 2,172 8,152 7,716 
Provision for income taxes164 168 975 860 
Net income$1,731 $2,004 $7,177 $6,856 
Earnings per share:
Basic $2.11 $2.40 $8.68 $8.16 
Diluted$2.09 $2.38 $8.61 $8.11 
Weighted average number of shares:
Basic822 836 827 840 
Diluted828 842 834 845 



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APPLIED MATERIALS, INC.
UNAUDITED CONSOLIDATED CONDENSED BALANCE SHEETS
 
(In millions)October 27,
2024		October 29,
2023
ASSETS
Current assets:
Cash and cash equivalents$8,022 $6,132 
Short-term investments1,449 737 
Accounts receivable, net5,234 5,165 
Inventories5,421 5,725 
Other current assets1,094 1,388 
Total current assets21,220 19,147 
Long-term investments2,787 2,281 
Property, plant and equipment, net3,339 2,723 
Goodwill3,732 3,732 
Purchased technology and other intangible assets, net249 294 
Deferred income taxes and other assets3,082 2,552 
Total assets$34,409 $30,729 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Short-term debt$799 $100 
Accounts payable and accrued expenses4,820 4,297 
Contract liabilities2,849 2,975 
Total current liabilities8,468 7,372 
Long-term debt5,460 5,461 
Income taxes payable 670 833 
Other liabilities810 714 
Total liabilities15,408 14,380 
Total stockholders’ equity19,001 16,349 
Total liabilities and stockholders’ equity$34,409 $30,729 




Applied Materials, Inc.
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APPLIED MATERIALS, INC.
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
 
(In millions)Three Months EndedTwelve Months Ended
October 27,
2024		October 29,
2023		October 27,
2024		October 29,
2023
Cash flows from operating activities:
Net income $1,731 $2,004 $7,177 $6,856 
Adjustments required to reconcile net income to cash provided by operating activities:
Depreciation and amortization110 130 392 515 
Share-based compensation141 115 577 490 
Deferred income taxes(248)198 (633)24 
Other246 (149)47 40 
Net change in operating assets and liabilities595 (743)1,117 775 
Cash provided by operating activities2,575 1,555 8,677 8,700 
Cash flows from investing activities:
Capital expenditures (407)(309)(1,190)(1,106)
Cash paid for acquisitions, net of cash acquired— — — (25)
Proceeds from sales and maturities of investments956 297 2,451 1,268 
Purchases of investments(1,620)(477)(3,588)(1,672)
Cash used in investing activities(1,071)(489)(2,327)(1,535)
Cash flows from financing activities:
Debt borrowings, net of issuance costs— — 694 — 
Proceeds from issuance of commercial paper101 99 401 991 
Repayments of commercial paper(100)(200)(400)(900)
Proceeds from common stock issuances124 116 243 227 
Common stock repurchases(1,442)(700)(3,823)(2,189)
Tax withholding payments for vested equity awards(33)(14)(291)(179)
Payments of dividends to stockholders(329)(268)(1,192)(975)
Repayments of principal on finance leases(90)1 (102)(7)
Cash used in financing activities(1,769)(966)(4,470)(3,032)
Increase (decrease) in cash, cash equivalents and restricted cash equivalents(265)100 1,880 4,133 
Cash, cash equivalents and restricted cash equivalents—beginning of period8,378 6,133 6,233 2,100 
Cash, cash equivalents and restricted cash equivalents — end of period$8,113 $6,233 $8,113 $6,233 
Reconciliation of cash, cash equivalents, and restricted cash equivalents
       Cash and cash equivalents$8,022 $6,132 $8,022 $6,132 
Restricted cash equivalents included in deferred income taxes and other assets91 101 91 101 
Total cash, cash equivalents, and restricted cash equivalents$8,113 $6,233 $8,113 $6,233 
Supplemental cash flow information:
Cash payments for income taxes$138 $588 $957 $1,006 
Cash refunds from income taxes$8 $2 $15 $53 
Cash payments for interest$68 $68 $205 $205 

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Additional Information
 Q4 FY2024Q4 FY2023FY2024FY2023
Net Revenue by Geography (In millions)
United States$1,153 $803 $3,818 $4,006 
% of Total16 %12 %14 %15 %
Europe$405 $441 $1,443 $2,152 
% of Total6 %7 %5 %8 %
Japan$581 $681 $2,154 $2,075 
% of Total8 %10 %8 %8 %
Korea$1,172 $745 $4,493 $4,609 
% of Total17 %11 %17 %18 %
Taiwan$1,284 $922 $4,010 $5,670 
% of Total18 %14 %15 %21 %
Southeast Asia$314 $168 $1,141 $758 
% of Total5 %2 %4 %3 %
China$2,136 $2,963 $10,117 $7,247 
% of Total30 %44 %37 %27 %
Employees (In thousands)
  
Regular Full Time35.7 34.3 



 










Applied Materials, Inc.
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APPLIED MATERIALS, INC.
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP RESULTS
 Three Months EndedTwelve Months Ended
(In millions, except percentages)October 27,
2024		October 29,
2023		October 27,
2024		October 29,
2023
Non-GAAP Gross Profit
GAAP reported gross profit$3,335 $3,169 $12,897 $12,384 
Certain items associated with acquisitions1
6 8 26 29 
Impairment of long-lived assets3 — 3 — 
Non-GAAP gross profit$3,344 $3,177 $12,926 $12,413 
Non-GAAP gross margin47.5 %47.3 %47.6 %46.8 %
Non-GAAP Operating Income
GAAP reported operating income$2,046 $1,971 $7,867 $7,654 
Certain items associated with acquisitions1
11 11 42 43 
Acquisition integration and deal costs3 2 12 22 
Impairment of long-lived assets3 — 3 — 
Non-GAAP operating income$2,063 $1,984 $7,924 $7,719 
Non-GAAP operating margin29.3 %29.5 %29.2 %29.1 %
Non-GAAP Net Income
GAAP reported net income$1,731 $2,004 $7,177 $6,856 
Certain items associated with acquisitions1
11 11 42 43 
Acquisition integration and deal costs3 2 12 22 
Impairment of long-lived assets3 — 3 — 
Realized loss (gain), dividends and impairments on strategic investments, net(1)(2)11 107 
Unrealized loss (gain) on strategic investments, net244 (147)(31)(134)
Earn-out— (15)— (15)
Income tax effect of share-based compensation2
7 6 — — 
Income tax effects related to intra-entity intangible asset transfers(33)(65)24 (40)
Resolution of prior years’ income tax filings and other tax items(47)(9)(25)(31)
Income tax effect of non-GAAP adjustments3
(1)1 (3)(6)
Non-GAAP net income$1,917 $1,786 $7,210 $6,802 

1 These items are incremental charges attributable to completed acquisitions, consisting of amortization of purchased intangible assets.
2GAAP basis tax benefit related to share-based compensation is recognized ratably over the fiscal year on a non-GAAP basis.
3Adjustment to provision for income taxes related to non-GAAP adjustments reflected in income before income taxes.


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APPLIED MATERIALS, INC.
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP RESULTS

 Three Months EndedTwelve Months Ended
(In millions, except per share amounts)October 27,
2024		October 29,
2023		October 27,
2024		October 29,
2023
Non-GAAP Earnings Per Diluted Share
GAAP reported earnings per diluted share$2.09 $2.38 $8.61 $8.11 
Certain items associated with acquisitions 0.01 0.01 0.05 0.05 
Acquisition integration and deal costs— — 0.01 0.02 
Realized loss (gain), dividends and impairments on strategic investments, net— — 0.01 0.13 
Unrealized loss (gain) on strategic investments, net0.30 (0.18)(0.03)(0.16)
Earn-out— (0.01)— (0.01)
Income tax effect of share-based compensation0.01 0.01 — — 
Income tax effects related to intra-entity intangible asset transfers(0.04)(0.08)0.03 (0.05)
Resolution of prior years’ income tax filings and other tax items(0.05)(0.01)(0.03)(0.04)
Non-GAAP earnings per diluted share$2.32 $2.12 $8.65 $8.05 
Weighted average number of diluted shares828 842 834 845 



Applied Materials, Inc.
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APPLIED MATERIALS, INC.
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP RESULTS
 
 Three Months EndedTwelve Months Ended
(In millions, except percentages)October 27,
2024		October 29,
2023		October 27,
2024		October 29,
2023
Semiconductor Systems Non-GAAP Operating Income
GAAP reported operating income$1,824 $1,741 $6,981 $6,879 
Certain items associated with acquisitions1
10 10 40 39 
Non-GAAP operating income$1,834 $1,751 $7,021 $6,918 
Non-GAAP operating margin35.4 %35.9 %35.3 %35.1 %
Applied Global Services Non-GAAP Operating Income
GAAP reported operating income$492 $401 $1,812 $1,529 
Non-GAAP operating income$492 $401 $1,812 $1,529 
Non-GAAP operating margin30.0 %27.3 %29.1 %26.7 %
Display Non-GAAP Operating Income
GAAP reported operating income$5 $63 $51 $114 
Non-GAAP operating income$5 $63 $51 $114 
Non-GAAP operating margin2.4 %21.1 %5.8 %13.1 %
 
1 These items are incremental charges attributable to completed acquisitions, consisting of amortization of purchased intangible assets.

Note: The reconciliation of GAAP and non-GAAP segment results above does not include certain revenues, costs of products sold and operating expenses that are reported within corporate and other and included in consolidated operating income.

Applied Materials, Inc.
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APPLIED MATERIALS, INC.
UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP EFFECTIVE INCOME TAX RATE
 
Three Months Ended
(In millions, except percentages)October 27, 2024
GAAP provision for income taxes (a)
$164 
Income tax effect of share-based compensation(7)
Income tax effects related to intra-entity intangible asset transfers33 
Resolutions of prior years’ income tax filings and other tax items47 
Income tax effect of non-GAAP adjustments1 
Non-GAAP provision for income taxes (b)
$238 
GAAP income before income taxes (c)
$1,895 
Certain items associated with acquisitions11 
Acquisition integration and deal costs3 
Impairment of long-lived assets3 
Realized loss (gain), dividends and impairments on strategic investments, net(1)
Unrealized loss (gain) on strategic investments, net244 
Non-GAAP income before income taxes (d)
$2,155 
GAAP effective income tax rate (a/c)
8.7 %
Non-GAAP effective income tax rate (b/d)
11.0 %



UNAUDITED RECONCILIATION OF NON-GAAP FREE CASH FLOW

 Three Months EndedTwelve Months Ended
(In millions)October 27,
2024		October 29,
2023		October 27,
2024		October 29,
2023
Cash provided by operating activities$2,575 $1,555 $8,677 $8,700 
Capital expenditures(407)(309)(1,190)(1,106)
Non-GAAP free cash flow$2,168 $1,246 $7,487 $7,594 

v3.24.3
Cover
Nov. 14, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Nov. 14, 2024
Entity Registrant Name APPLIED MATERIALS INC /DE
Entity Central Index Key 0000006951
Amendment Flag false
Entity Incorporation, State or Country Code DE
Entity File Number 000-06920
Entity Tax Identification Number 94-1655526
Entity Address, Address Line One 3050 Bowers Avenue
Entity Address, Address Line Two P.O. Box 58039
Entity Address, City or Town Santa Clara
Entity Address, State or Province CA
Entity Address, Postal Zip Code 95052-8039
City Area Code 408
Local Phone Number 727-5555
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Title of 12(b) Security Common Stock, par value $.01 per share
Trading Symbol AMAT
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Applied Materials (NASDAQ:AMAT)
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Applied Materials (NASDAQ:AMAT)
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From Nov 2023 to Nov 2024 Click Here for more Applied Materials Charts.