AMAT · PEAD ↓ 35

Applied Materials reported Q3 FY2026 EPS of $3.50 on 2026-08-13, beating the $3.38 consensus by $0.12 (+3.6%).

Print-day reaction was −2.5% versus the prior close, a notable give-back despite the EPS beat — the market read through the headline number to softer underlying signals. The overnight gap to the T+1 open compounded the damage, falling an additional −6.6%, leaving the stock sharply below its pre-earnings range with no after-hours stabilisation. Over the following two trading days the price drifted +1.4%, a partial recovery but insufficient to close the gap opened by the initial reaction and overnight slide. Cumulative abnormal return of −5.5% versus SPY.US over the three-day window puts this firmly in PEAD short territory; per the documented pattern, the read holds through 2026-11-10.