Applied Materials vs Lam Research
Prices at close . Model readings .
Applied Materials
$416.00+5.07%- Market value
- $332.80B
- P/E
- 55.3
- 1 year
- +80.8%
Lam Research
$253.82+5.39%- Market value
- $318.74B
- P/E
- 46.8
- 1 year
- +62.3%
Price change, with the S&P 500 as a benchmark
Percent change in each close since the start of the chosen range, for both companies and the S&P 500 (SPY). Daily closes over the last year, weekly before that and monthly before five years.
How the two compare
On the latest closes (28 Oct 2026), Applied Materials is the larger company by market value ($332.80B against $318.74B). Over the past year Applied Materials returned +80.8% and Lam Research +62.3%, while the S&P 500 returned +12.7%. The latest filed P/E is 55.3 for Applied Materials and 46.8 for Lam Research, and the operating margin 33.7% against 40%. Over the next 21 sessions the model expects +0.89% for Applied Materials, with a 78% chance of a rise, and +0.99% for Lam Research, with a 75% chance. Applied Materials' long-run fair value is $429.05, a gap of +3.1% to its price; the long-run model view is neutral. Lam Research's long-run fair value is $167.62, a gap of −34% to its price; the long-run model view is negative.
What the model expects
Expected returns and the chance of a rise from our forecasting models, and the long-run fair value against the price. Readings, not advice.
How the prices moved
Price change over each period, with the S&P 500 (SPY) for comparison.
What the market pays
Size and the multiples from the latest filed quarter. A P/E on losses reads n/m.
How much of revenue becomes profit
Margins and returns on capital from the latest filing; revenue, net income and earnings per share over the trailing twelve months.
How fast the business grew
Change against the same quarter a year earlier.
Balance sheet and quality scores
Leverage, liquidity and two published scores: Altman Z (below 1.8 the distress zone, above 3 the safe zone) and Piotroski F (0 to 9).
How the shares trade
Volatility, sensitivity to the market, the deepest fall, short interest and how closely the two move together.
Applied Materials or Lam Research: common questions
Which is larger by market value, Applied Materials or Lam Research?
Applied Materials, at $332.80B against $318.74B for Lam Research, on the latest closes (28 Oct 2026).
Which has the higher P/E ratio, Applied Materials or Lam Research?
Applied Materials has the higher latest filed P/E, 55.3; Lam Research's is 46.8. Filings: quarter to 26 Jul 2026 and 27 Sep 2026.
How did Applied Materials and Lam Research move over the past year against the S&P 500?
Over the past year Applied Materials returned +80.8% and Lam Research +62.3%, while the S&P 500 returned +12.7%. Prices at close 28 Oct 2026.
What does the model expect for Applied Materials and Lam Research over the next month?
+0.89% for Applied Materials with a 78% chance of a rise, and +0.99% for Lam Research with a 75% chance, over the next 21 sessions. Model readings 28 Oct 2026. These are model readings, not advice.
How do the operating margins of Applied Materials and Lam Research compare?
The operating margin is 33.7% for Applied Materials and 40% for Lam Research, and the gross margin 50.3% against 52.3%. Filings: quarter to 26 Jul 2026 and 27 Sep 2026.
Do Applied Materials and Lam Research shares move together?
Over the past year the correlation of their daily returns was 0.91 (closely together); 1 means they always move together, 0 unrelated, −1 opposite. Prices at close 28 Oct 2026.
Model readings are research estimates, not investment advice. Prices: daily closes. Fundamentals: the latest SEC filings. Short interest: FINRA, settlement 30 Sep 2026. A dash means the figure is not in our data; it is never shown as zero. The model view follows a published rule: next month by the sign of the expected return, the long run positive at a fair value 10% or more above the price and negative at 10% or more below it.