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StocksMedium•24 April 2026•

1 min read

Coatue Bets Billions on AI as Applied Materials Beats Earnings Estimates

Key Facts

1Applied Materials reported non-GAAP EPS of $2.38 against a $2.21 estimate, a 7.84% beat.

2Record DRAM revenue now represents 34% of Semiconductor Systems revenue, up from 27% year over year.

Philippe Laffont's hedge fund, Coatue Management, is making significant multi-billion dollar investments in AI-focused stocks, signaling strong institutional confidence in the sector. This move coincides with Applied Materials reporting a robust earnings beat, with non-GAAP EPS reaching $2.38, surpassing the $2.21 estimate by 7.84%. The company also achieved record DRAM revenue, which now accounts for 34% of its Semiconductor Systems revenue, up from 27% in the previous year. These results underscore the surging demand for AI infrastructure and specialized semiconductor equipment. The influx of 'smart money' into AI-related equities suggests a bullish outlook for the industry's long-term growth. Overall, the data highlights the pivotal role of semiconductor equipment providers in sustaining the current AI expansion.