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 2026-09-26.
Applied Materials, Inc. · Technology
$474.38
-3.5% upside to fair value
Med Conviction
Grade C
High Quality
VS
Super Micro Computer, Inc. · Technology
$43.26
-4.2% upside to fair value
Med Conviction
Grade C
QuantHub Verdict
AMAT has more upside to fair value
(-3.5%).
These are model outputs — not personalized investment advice.
See all research →
Valuation & Fundamentals
| Metric |
AMAT |
SMCI |
| Current Price |
$474.38 |
$43.26 |
| Fair Value Estimate |
$457.95 |
$41.44 |
| Upside to Fair Value |
-3.5%
|
-4.2%
|
| Market Cap |
$376.6B |
$28.0B |
| Forward P/E |
—
|
—
|
| EV / EBITDA |
33.1x
|
8.9x
|
| Price / Sales |
12.2x
|
0.7x
|
| Price / FCF |
67.0x
|
—
|
| Revenue Growth YoY |
+24.8%
|
+93.2%
|
| Gross Margin |
49.4%
|
10.8%
|
| Operating Margin |
30.5%
|
7.1%
|
| Return on Equity |
40.4%
|
25.1%
|
| Dividend Yield |
0.42% |
0% |
| FCF Yield |
1.49%
|
—
|
| Analyst Consensus |
Strong Buy
|
Hold
|
Investment Thesis
Applied Materials is the largest supplier of wafer fabrication equipment, providing deposition, etch, ion implantation, and process-control tools alongside a growing Applied Global Services aftermarket business to semiconductor manufacturers worldwide. The business quality is high: TTM gross margin of 49.4%, TTM operating margin of 30.5%, TTM net margin of 30.1%, and ROE of 40.4% reflect a durabl…
Super Micro Computer designs and sells modular, open-standard server and storage systems, with a growing franchise in liquid- and air-cooled AI racks such as the NVIDIA Vera Rubin NVL72, sold through direct, distribution and OEM channels to data center, cloud, AI, 5G and edge customers. The business quality is mixed: revenue grew 93.2% year over year and earnings grew 503.7% in the most recent qu…
Accumulation Zones
| Metric |
AMAT |
SMCI |
| Zone Low |
$343.46 |
$31.08 |
| Zone High |
$389.26 |
$35.22 |
| In Buy Zone? |
No
|
No
|