AMAT vs SMCI: Which Is the Better Buy?
Side-by-side comparison of Applied Materials, Inc. and Super Micro Computer, Inc. — fair value, conviction, valuation metrics, and QuantHub research signals.
Updated 2026-04-22.
Applied Materials, Inc. · Technology
$394.33
-58.9% upside to fair value
Grade C
High Quality
VS
Super Micro Computer, Inc. · Technology
$28.56
+435.6% upside to fair value
Grade C
QuantHub Verdict
SMCI has more upside to fair value
(+435.6%).
SMCI trades at a lower forward P/E
(19.5x).
These are model outputs — not personalized investment advice.
See all research →
Valuation & Fundamentals
| Metric |
AMAT |
SMCI |
| Current Price |
$394.33 |
$28.56 |
| Fair Value Estimate |
$162.08 |
$152.97 |
| Upside to Fair Value |
-58.9%
|
+435.6%
|
| Market Cap |
$312.9B |
$17.1B |
| Forward P/E |
39.9x
|
19.5x
|
| EV / EBITDA |
31.6x
|
15.0x
|
| Price / Sales |
11.1x
|
0.6x
|
| Price / FCF |
50.5x
|
38.9x
|
| Revenue Growth YoY |
-2.1%
|
+123.4%
|
| Gross Margin |
48.7%
|
8.0%
|
| Operating Margin |
29.1%
|
3.7%
|
| Return on Equity |
38.9%
|
13.3%
|
| Dividend Yield |
0% |
0% |
| FCF Yield |
1.98%
|
2.57%
|
| Analyst Consensus |
Strong Buy
|
Hold
|
Investment Thesis
Applied Materials, Inc. is a leading global provider of semiconductor and display equipment, specializing in materials engineering solutions critical to chip manufacturing. The company benefits from a durable competitive moat supported by its market leadership, innovation engine with over 8,500 patents since 2013, and a strong management team led by CEO Gary E. Dickerson. Despite these strengths,…
Super Micro Computer, Inc. is a technology company specializing in server and storage systems with a strong focus on AI GPU platforms, which represent over 70% of its server revenue. The company benefits from a long-tenured leadership team and a durable competitive position in liquid cooling technology with a 70-80% market share. Despite strong revenue growth of 123.4% in the most recent quarter …
Accumulation Zones
| Metric |
AMAT |
SMCI |
| Zone Low |
$121.56 |
$114.73 |
| Zone High |
$137.77 |
$130.02 |
| In Buy Zone? |
No
|
Yes
|