Applied Materials vs. SK Hynix: Which Technology Stock Is a Better Buy in 2026?

Applied Materials and SK Hynix are being framed as two core plays in the semiconductor race driven by AI demand, but they sit in different parts of the supply chain. Applied Materials (AMAT) supplies equipment used to deposit, shape, and analyze materials for chipmaking, supported by partnerships including one with Intel and a strategic relationship with TSMC. For fiscal 2025, it reported revenue near $28.4 billion, up about 4.4%, net income around $7.0 billion, and net margin close to 24.7%, with a debt-to-equity ratio around 0.3x. SK Hynix (SKHY) makes DRAM and NAND, with a “Full Stack AI Memory” push. In fiscal 2025 it posted revenue near $72.5 billion, up roughly 46.8%, net income near $32.1 billion, and net margin about 44.2%, and a debt-to-equity ratio around 0.2x.