AMAT vs. SMCI

Last updated Jun 9, 2026

AMAT (Applied Materials, Inc.) and SMCI (Super Micro Computer, Inc.) are both stocks. Both are in the Technology sector — AMAT in Semiconductor Equipment & Materials, SMCI in Computer Hardware. Over the past 10 years, AMAT returned 36.71%/yr vs 32.81%/yr for SMCI. At a 0.41 correlation, their price movements are largely independent.

Performance

AMAT vs. SMCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Applied Materials, Inc. (AMAT) and Super Micro Computer, Inc. (SMCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMAT achieves a 91.99% return, which is significantly higher than SMCI's 50.29% return. Over the past 10 years, AMAT has outperformed SMCI with an annualized return of 36.71%, while SMCI has yielded a comparatively lower 32.81% annualized return.

AMAT

• 1D: 8.64%
• 1M: 13.17%
• YTD: 91.99%
• 6M: 83.99%
• 1Y: 197.34%
• 3Y*: 54.75%
• 5Y*: 30.69%
• 10Y*: 36.71%

SMCI

• 1D: 5.64%
• 1M: 24.37%
• YTD: 50.29%
• 6M: 24.37%
• 1Y: 5.87%
• 3Y*: 18.91%
• 5Y*: 64.69%
• 10Y*: 32.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMAT vs. SMCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMAT Applied Materials, Inc.	91.99%	59.60%	1.13%	67.97%	-37.54%	83.64%	43.29%	89.86%	-34.92%	59.86%
SMCI Super Micro Computer, Inc.	50.29%	-3.97%	7.23%	246.24%	86.80%	38.82%	31.81%	74.06%	-34.07%	-25.38%

Correlation

The correlation between AMAT and SMCI is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since Mar 30, 2007	0.41

Fundamentals

Market Cap AMAT : $393.24B SMCI : $29.63B
EPS AMAT : $10.61 SMCI : $2.70
PE Ratio AMAT : 46.38 SMCI : 16.27
PEG Ratio AMAT : 5.90 SMCI : 0.36
PS Ratio AMAT : 13.60 SMCI : 0.86
PB Ratio AMAT : 16.45 SMCI : 3.91
Total Revenue (TTM) AMAT : $29.02B SMCI : $33.70B
Gross Profit (TTM) AMAT : $14.21B SMCI : $2.83B
EBITDA (TTM) AMAT : $9.92B SMCI : $1.47B

Return for Risk

AMAT vs. SMCI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMAT

AMAT Risk / Return Rank: 96
AMAT Sharpe Ratio Rank: 98
AMAT Sortino Ratio Rank: 94
AMAT Omega Ratio Rank: 95
AMAT Calmar Ratio Rank: 97
AMAT Martin Ratio Rank: 97

SMCI

SMCI Risk / Return Rank: 46
SMCI Sharpe Ratio Rank: 45
SMCI Sortino Ratio Rank: 48
SMCI Omega Ratio Rank: 49
SMCI Calmar Ratio Rank: 44
SMCI Martin Ratio Rank: 44

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMAT vs. SMCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Applied Materials, Inc. (AMAT) and Super Micro Computer, Inc. (SMCI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AMAT	SMCI	Difference
Sharpe ratio: Return per unit of total volatility	4.15	0.07	+4.08
Sortino ratio: Return per unit of downside risk	3.81	0.68	+3.13
Omega ratio: Gain probability vs. loss probability	1.55	1.09	+0.45
Calmar ratio: Return relative to maximum drawdown	9.29	0.09	+9.20
Martin ratio: Return relative to average drawdown	26.48	0.15	+26.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMAT vs. SMCI - Sharpe Ratio Comparison

The current AMAT Sharpe Ratio is 4.15, which is higher than the SMCI Sharpe Ratio of 0.07. The chart below compares the historical Sharpe Ratios of AMAT and SMCI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AMAT	SMCI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.15	0.07	+4.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.76	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.86	0.47	+0.39
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.36	+0.06

Drawdowns

AMAT vs. SMCI - Drawdown Comparison

The maximum AMAT drawdown since its inception was -85.22%, roughly equal to the maximum SMCI drawdown of -84.84%. Use the drawdown chart below to compare losses from any high point for AMAT and SMCI.

Drawdown Indicators

	AMAT	SMCI	Difference
Max Drawdown Largest peak-to-trough decline	-85.22%	-84.84%	-0.38%
Max Drawdown (1Y) Largest decline over 1 year	-21.37%	-66.18%	+44.81%
Max Drawdown (3Y) Largest decline over 3 years	-49.88%	-84.84%	+34.96%
Max Drawdown (5Y) Largest decline over 5 years	-55.14%	-84.84%	+29.70%
Max Drawdown (10Y) Largest decline over 10 years	-55.14%	-84.84%	+29.70%
Current Drawdown Current decline from peak	-1.90%	-62.97%	+61.07%
Average Drawdown Average peak-to-trough decline	-38.80%	-31.96%	-6.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.49%	38.91%	-31.42%

Volatility

AMAT vs. SMCI - Volatility Comparison

The current volatility for Applied Materials, Inc. (AMAT) is 19.01%, while Super Micro Computer, Inc. (SMCI) has a volatility of 26.36%. This indicates that AMAT experiences smaller price fluctuations and is considered to be less risky than SMCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMAT	SMCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.01%	26.36%	-7.35%
Volatility (6M) Calculated over the trailing 6-month period	37.52%	67.65%	-30.13%
Volatility (1Y) Calculated over the trailing 1-year period	47.94%	79.63%	-31.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.93%	85.44%	-41.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.81%	70.55%	-27.74%

Dividends

AMAT vs. SMCI - Dividend Comparison

AMAT's dividend yield for the trailing twelve months is around 0.39%, while SMCI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMAT Applied Materials, Inc.	0.39%	0.69%	0.93%	0.75%	1.05%	0.60%	1.01%	1.36%	2.14%	0.78%	1.24%	2.14%
SMCI Super Micro Computer, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

AMAT vs. SMCI - Profitability Comparison

The chart below illustrates the profitability comparison between Applied Materials, Inc. and Super Micro Computer, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AMAT - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported a gross profit of 3.95B and revenue of 7.91B. Therefore, the gross margin over that period was 49.9%.

SMCI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Super Micro Computer, Inc. reported a gross profit of 1.02B and revenue of 10.24B. Therefore, the gross margin over that period was 10.0%.

AMAT - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported an operating income of 2.52B and revenue of 7.91B, resulting in an operating margin of 31.9%.

SMCI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Super Micro Computer, Inc. reported an operating income of 625.87M and revenue of 10.24B, resulting in an operating margin of 6.1%.

AMAT - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Applied Materials, Inc. reported a net income of 2.81B and revenue of 7.91B, resulting in a net margin of 35.5%.

SMCI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Super Micro Computer, Inc. reported a net income of 1.02B and revenue of 10.24B, resulting in a net margin of 9.9%.

Frequently Asked Questions

Can I hold both AMAT and SMCI in my portfolio?

AMAT and SMCI have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMAT or SMCI?

SMCI has higher volatility (26.36%) compared to AMAT (19.01%). In terms of maximum drawdown, AMAT dropped -85.22% vs SMCI's -84.84%.

Which has better risk-adjusted returns?

AMAT currently has the higher Sharpe Ratio (4.15 vs 0.07), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.