Key Takeaways Applied Materials expanded non-GAAP operating margin by 190 bps in Q3 fiscal 2025.Gross margin hit 49.2% in Q2 fiscal 2025, the highest since 2000, fueled by high-margin products.AMAT keeps its margins high by selling high-margin products and prudent cost management.Applied Materials (AMAT) has been continuously ramping up its R&D investments. For instance, AMAT set up the Equipment and Process Innovation and Commercialization center for research, which is expected to be operational by 2026. T ...