Exhibit 99.1

		CONTACT:
		Howard Clabo (editorial/media) 408.748.5775
NEWS RELEASE		Michael Sullivan (financial community) 408.986.7977

APPLIED MATERIALS FIRST QUARTER RESULTS EXCEED EXPECTATIONS

	•		Expects record net sales of more than $11 billion and non-GAAP EPS of more than $1.50 in fiscal 2011
	•		Raises wafer fab equipment market forecast for calendar 2011 to between $34-36 billion
	•		Strong solar equipment sales drove record EES operating profit in Q1
	•		Q1 EPS of $0.38
	•		Q1 non-GAAP EPS of $0.36 exceeded target range by $0.02
	•		Non-GAAP EPS grew 177 percent year over year

SANTA CLARA, Calif., Feb. 24, 2011 — Applied Materials, Inc. (NASDAQ: AMAT), the world’s leading supplier of manufacturing solutions for the semiconductor, display and solar industries, today reported results for its first quarter of fiscal 2011 ended Jan. 30, 2011. Applied generated orders of $2.97 billion, net sales of $2.69 billion, operating income of $674 million, and net income of $506 million or $0.38 per share. Non-GAAP operating income was $659 million, and non-GAAP net income was $484 million or $0.36 per share.

“Applied’s solid first quarter was driven by continued strength in semiconductor systems and record profitability in solar,” said Mike Splinter, chairman and chief executive officer. “We see momentum building in our end markets and expect our company’s fiscal year revenue to be more than $11 billion, exceeding our previous record by over a billion dollars. We now expect wafer fab equipment spending to be up 10 to 15 percent from approximately $31 billion in calendar 2010, with crystalline silicon solar equipment spending rising by more than 30 percent year over year.”

“On a year-over-year basis, our non-GAAP earnings per share grew more than 170 percent on a 45 percent increase in net sales, demonstrating our focus on operating efficiencies and profitability improvement,” said George Davis, executive vice president and chief financial officer. “With the improving market outlook, we expect to deliver record non-GAAP earnings of more than $1.50 per share in fiscal 2011.”

Financial Results Summary

		Q1 FY2011				Q4 FY2010				Q1 FY2010
GAAP Results
Net sales		$	2.69	billion		$	2.89	billion		$	1.85	billion
Operating income		$	674	million		$	699	million		$	116	million
Net income		$	506	million		$	468	million		$	83	million
Earnings per share		$	0.38			$	0.35			$	0.06
Non-GAAP Results
Non-GAAP operating income		$	659	million		$	710	million		$	256	million
Non-GAAP net income		$	484	million		$	476	million		$	179	million
Non-GAAP earnings per share		$	0.36			$	0.36			$	0.13

The non-GAAP results exclude the impact of the following, where applicable: restructuring and asset impairment charges and any associated adjustment related to restructuring actions, certain discrete tax items, certain acquisition-related costs, investment impairments, and gain or loss on sale of facilities. A reconciliation of the GAAP and non-GAAP results is provided in the financial statements included in this release. See also “Use of Non-GAAP Financial Measures” below.

Applied Materials, Inc.
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Reportable Segment Results

Silicon Systems Group (SSG) orders were $1.61 billion in the first quarter, down 4 percent from the fourth quarter of fiscal 2010. Net sales increased to $1.50 billion, up 1 percent. Operating income decreased by 4 percent from the fourth quarter to $543 million or 36 percent of net sales. New order composition was: foundry 54 percent, logic and other 23 percent, DRAM 13 percent, and flash 10 percent.

Applied Global Services (AGS) orders were $552 million in the first quarter, down 13 percent from the fourth quarter of fiscal 2010. Net sales increased to $567 million, up 10 percent from the fourth quarter, led by higher shipments of 200mm equipment. Operating income decreased to $85 million or 15 percent of net sales as a result of lower margins on 200mm equipment.

Display orders declined 19 percent from the fourth quarter of fiscal 2010 to $142 million. Net sales were $147 million, down 48 percent from the fourth quarter, primarily driven by a cyclical decline in LCD equipment demand. Operating income decreased to $28 million or 19 percent of net sales.

Energy and Environmental Solutions (EES) had record orders of $668 million in the first quarter, up 22 percent from the fourth quarter of fiscal 2010. Net sales were $476 million, down 22 percent from the fourth quarter which included $230 million in thin film equipment sales. Net sales of crystalline silicon equipment set a record in the first quarter. Operating income increased to $144 million or 30 percent of net sales, and included a favorable adjustment of $28 million related to a previously announced restructuring program. Excluding this adjustment, operating income would have been 24 percent of net sales.

Additional Quarterly Financial Information

•		Gross margin was 42.3 percent, slightly higher than 42.2 percent in the fourth quarter.
•		Operating cash flow was $425 million or 16 percent of net sales.
•		Cash dividend payments totaled $93 million.
•		The company used $150 million to repurchase 10.9 million shares of its common stock.
•		Cash, cash equivalents and investments increased to $4.10 billion at quarter end.
•		The effective tax rate was 25.5 percent and included a benefit related to the reinstatement of the federal R&D tax credit, which lowered the rate by 1.9 points.
•		Backlog increased by $292 million to $3.54 billion.

Business Outlook

For the second quarter of fiscal 2011, Applied expects net sales to be in the range of flat to up 5 percent quarter over quarter. The company expects non-GAAP EPS to be in the range of $0.34 to $0.38, which excludes known charges related to completed acquisitions of approximately $0.01 per share. The expected full-year non-GAAP EPS of $1.50 excludes known charges related to completed acquisitions of approximately $0.04 per share along with favorable adjustments of $0.02 per share related to previously announced restructurings and the reinstatement of the federal R&D tax credit. The non-GAAP EPS amounts do not take into account other non-GAAP adjustments that may arise subsequent to this release.

Applied Materials, Inc.
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Use of Non-GAAP Financial Measures

Management uses non-GAAP results to evaluate the company’s operating and financial performance in light of business objectives and for planning purposes. These measures are not in accordance with GAAP and may differ from non-GAAP methods of accounting and reporting used by other companies. Applied Materials believes these measures enhance investors’ ability to review the company’s business from the same perspective as the company’s management and facilitate comparisons of this period’s results with prior periods. The presentation of this additional information should not be considered a substitute for results prepared in accordance with GAAP.

Webcast Information

Applied Materials will discuss these results during an earnings call that begins at 1:30 p.m. Pacific Time today. A live webcast will be available at www.appliedmaterials.com.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding Applied’s performance, products, end markets, wafer fab and solar equipment spending outlooks, profitability, fiscal 2011 revenue and earnings expectations, and second quarter of fiscal 2011 business outlook. Forward-looking statements may contain words such as “expect,” “believe,” “may,” “can,” “should,” “will,” “forecast,” “anticipate” or similar expressions, and include the assumptions that underlie such statements. These statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including but not limited to: the level of demand for Applied’s products, which is subject to many factors, including uncertain global economic and industry conditions, business and consumer spending, demand for electronic products and semiconductors, government renewable energy policies and incentives, and customers’ utilization rates and new technology and capacity requirements; variability of operating expenses and results among the company’s segments caused by differing conditions in the served markets; Applied’s ability to (i) develop, deliver and support a broad range of products, expand its markets and develop new markets, (ii) timely implement effective cost reduction programs, realize expected benefits, and align its cost structure with business conditions, (iii) plan and manage its resources and production capability, including its supply chain, (iv) implement initiatives that enhance global operations and efficiencies, (v) maintain effective internal controls and procedures, (vi) obtain and protect intellectual property rights in key technologies, (vii) attract, motivate and retain key employees, and (viii) accurately forecast future operating and financial results, which depends on multiple assumptions related to, without limitation, market conditions, customer requirements and business needs; and other risks described in Applied Materials’ SEC filings. All forward-looking statements are based on management’s estimates, projections and assumptions as of the date hereof. The company undertakes no obligation to update any forward-looking statements.

About Applied Materials

Applied Materials, Inc. (Nasdaq:AMAT) is the global leader in providing innovative equipment, services and software to enable the manufacture of advanced semiconductor, flat panel display and solar photovoltaic products. Our technologies help make innovations like smartphones, flat screen TVs and solar panels more affordable and accessible to consumers and businesses around the world. At Applied Materials, we turn today’s innovations into the industries of tomorrow. Learn more at www.appliedmaterials.com.

Applied Materials, Inc.
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APPLIED MATERIALS, INC.
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS

		Three Months Ended
		January 30,				January 31,
(In millions, except per share amounts)		2011				2010
Net sales		$	2,686			$	1,849
Cost of products sold			1,550				1,138
Gross margin			1,136				711
Operating expenses:
Research, development and engineering			270				269
General and administrative			112				125
Marketing and selling			109				97
Restructuring and asset impairments			(29	)			104
Total operating expenses			462				595
Income from operations			674				116
Interest expense			5				5
Interest and other income			11				8
Income before income taxes			680				119
Provision for income taxes			174				36
Net income		$	506			$	83
Earnings per share:
Basic and Diluted		$	0.38			$	0.06
Weighted average number of shares:
Basic			1,324				1,342
Diluted			1,335				1,350

Applied Materials, Inc.
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APPLIED MATERIALS, INC.
UNAUDITED CONSOLIDATED CONDENSED BALANCE SHEETS

		January 30,				October 31,
(In millions)		2011				2010
ASSETS
Current assets:
Cash and cash equivalents		$	1,974			$	1,858
Short-term investments			772				727
Accounts receivable, net			1,946				1,831
Inventories			1,647				1,547
Deferred income taxes, net			512				513
Other current assets			291				289
Total current assets			7,142				6,765
Long-term investments			1,351				1,307
Property, plant and equipment, net			893				963
Goodwill, net			1,336				1,336
Purchased technology and other intangible assets, net			273				287
Deferred income taxes and other assets			279				285
Total assets		$	11,274			$	10,943
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt		$	1			$	1
Accounts payable and accrued expenses			1,582				1,766
Customer deposits and deferred revenue			1,055				847
Income taxes payable			276				274
Total current liabilities			2,914				2,888
Long-term debt			204				204
Employee benefits and other liabilities			317				315
Total liabilities			3,435				3,407
Total stockholders’ equity			7,839				7,536
Total liabilities and stockholders’ equity		$	11,274			$	10,943

Applied Materials, Inc.
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APPLIED MATERIALS, INC.
UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

		Three Months Ended
		January 30,				January 31,
(In millions)		2011				2010
Cash flows from operating activities:
Net income		$	506			$	83
Adjustments required to reconcile net income to cash provided by (used in) operating activities:
Depreciation and amortization			63				76
Loss on fixed asset retirements			1				4
Provision for bad debts			—				6
Restructuring and asset impairments			(29	)			104
Deferred income taxes			10				(44	)
Net recognized loss on investments			4				6
Equity-based compensation			33				34
Net change in operating assets and liabilities, net of amounts acquired			(163	)			103
Cash provided by operating activities			425				372
Cash flows from investing activities:
Capital expenditures			(24	)			(53	)
Proceeds from sale of facility			39				—
Cash paid for acquisition, net of cash acquired			—				(323	)
Proceeds from sales and maturities of investments			443				184
Purchases of investments			(537	)			(297	)
Cash used in investing activities			(79	)			(489	)
Cash flows from financing activities:
Debt borrowings			—				1
Proceeds from common stock issuances			13				20
Common stock repurchases			(150	)			—
Payment of dividends to stockholders			(93	)			(81	)
Cash used in financing activities			(230	)			(60	)
Increase (decrease) in cash and cash equivalents			116				(177	)
Cash and cash equivalents — beginning of period			1,858				1,576
Cash and cash equivalents — end of period		$	1,974			$	1,399
Supplemental cash flow information:
Cash payments (refunds) for income taxes		$	164			$	(33	)

Applied Materials, Inc.
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Reportable Segment Results

		Q1 FY2011												Q4 FY2010												Q1 FY2010
										Operating												Operating												Operating
		New				Net				Income				New				Net				Income				New				Net				Income
(In millions)		Orders				Sales				(Loss)				Orders				Sales				(Loss)				Orders				Sales				(Loss)
SSG		$	1,610			$	1,496			$	543			$	1,673			$	1,483			$	564			$	1,135			$	970			$	306
AGS		$	552			$	567			$	85			$	631			$	516			$	100			$	474			$	426			$	63
Display		$	142			$	147			$	28			$	175			$	281			$	89			$	126			$	132			$	25
EES		$	668			$	476			$	144			$	546			$	606			$	86			$	230			$	321				($36	)
Corporate			—				—				($126	)			—				—				($140	)			—				—				($242	)
Consolidated		$	2,971			$	2,686			$	674			$	3,026			$	2,886			$	699			$	1,965			$	1,849			$	116

Corporate Unallocated Expenses

(In millions)										Q1 FY2011												Q4 FY2010												Q1 FY2010
Restructuring and asset impairments, net											($1	)										$	—											$	104
Share-based compensation										$	33											$	31											$	34
Other unallocated expenses										$	94											$	109											$	104
Corporate										$	126											$	140											$	242

Applied Materials, Inc.
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Additional Information

		Q1 FY2011								Q4 FY2010								Q1 FY2010
New Orders and Net Sales by Geography		New				Net				New				Net				New				Net
(In $ millions)		Orders				Sales				Orders				Sales				Orders				Sales
North America			679				610				450				380				256				241
% of Total			23				23				15				13				13				13
Europe			346				278				327				223				146				310
% of Total			12				10				11				8				7				17
Japan			187				166				173				158				178				174
% of Total			6				6				6				5				9				9
Korea			225				169				237				407				387				331
% of Total			8				6				8				14				20				18
Taiwan			745				635				713				829				658				514
% of Total			25				24				23				29				34				28
Southeast Asia			135				154				152				175				125				136
% of Total			4				6				5				6				6				7
China			654				674				974				714				215				143
% of Total			22				25				32				25				11				8
Employees (In thousands)
Regular Full Time					13.0								13.0								13.0

Applied Materials, Inc.
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APPLIED MATERIALS, INC.
RECONCILIATION OF GAAP TO NON-GAAP RESULTS

		Three Months Ended
		January 30,				October 31,				January 31,
(In millions, except per share amounts)		2011				2010				2010
Non-GAAP Operating Income
Reported operating income (GAAP basis)		$	674			$	699			$	116
Certain items associated with acquisitions 1			13				14				26
Semitool deal cost			—				—				10
Restructuring and asset impairments 2, 3, 4			(29	)			(2	)			104
Loss on sale of facility			1				—				—
Non-GAAP operating income		$	659			$	710			$	256
Non-GAAP Net Income
Reported net income (GAAP basis)		$	506			$	468			$	83
Certain items associated with acquisitions 1			13				14				26
Semitool deal cost			—				—				10
Restructuring and asset impairments 2, 3, 4			(29	)			(2	)			104
Impairment of strategic investments			—				—				1
Loss on sale of facility			1				—				—
Reinstatement of federal R&D tax credit			(13	)			—				—
Income tax effect of non-GAAP adjustments			6				(4	)			(45	)
Non-GAAP net income		$	484			$	476			$	179
Non-GAAP Net Income Per Diluted Share
Reported net income per diluted share (GAAP basis)		$	0.38			$	0.35			$	0.06
Certain items associated with acquisitions			0.01				0.01				0.01
Semitool deal cost			—				—				0.01
Restructuring and asset impairments			(0.01	)			—				0.05
Impairment of strategic investments			—				—				—
Loss on sale of facility			—				—				—
Reinstatement of federal R&D tax credit			(0.01	)			—				—
Non-GAAP net income — per diluted share		$	0.36			$	0.36			$	0.13
Shares used in diluted shares calculation			1,335				1,340				1,350