Applied Materials forecasts its services business revenue will grow by more than 20% by 2026, and top $12 billion by 2030.

Applied Materials (AMAT.O) said it targets a non-GAAP gross margin of 54% and operating margin of 40% by 2030. It projects its services business revenue will grow by over 20% in 2026, and exceed $12 billion by 2030. The company plans to expand its R&D labs and manufacturing capacity to more than double current levels by 2030, return 80% to 100% of its free cash flow to shareholders by 2030, and lift its wafer fabrication equipment (WFE) market share by more than 2 percentage points between 2025

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