VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Thursday, January 1, 2026

Stock Comparison

Applied Materials, Inc. vs Keysight Technologies, Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Applied Materials, Inc.

AMAT · The Nasdaq Stock Market LLC

Market cap (USD)$203.3B
SectorTechnology
CountryUS
Data as of2025-12-22
Moat score
76/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Applied Materials, Inc.'s moat claims, evidence, and risks.

View AMAT analysis

Keysight Technologies, Inc.

KEYS · New York Stock Exchange

Market cap (USD)$34.9B
SectorTechnology
CountryUS
Data as of2026-01-01
Moat score
69/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Keysight Technologies, Inc.'s moat claims, evidence, and risks.

View KEYS analysis

Comparison highlights

  • Moat score gap: Applied Materials, Inc. leads (76 / 100 vs 69 / 100 for Keysight Technologies, Inc.).
  • Segment focus: Applied Materials, Inc. has 2 segments (73.3% in Semiconductor Systems); Keysight Technologies, Inc. has 2 segments (69.3% in Communications Solutions Group (CSG)).
  • Moat breadth: Applied Materials, Inc. has 7 moat types across 3 domains; Keysight Technologies, Inc. has 6 across 3.

Primary market context

Applied Materials, Inc.

Semiconductor Systems

Market

Wafer fabrication equipment (WFE) and adjacent front-end process equipment (deposition, etch, CMP, metrology/inspection) plus advanced packaging tools

Geography

Global

Customer

Semiconductor manufacturers (foundry, logic, memory) and advanced packaging providers

Role

OEM equipment supplier

Revenue share

73.3%

Keysight Technologies, Inc.

Communications Solutions Group (CSG)

Market

Electronic design, test, and measurement solutions for communications networks and aerospace/defense/government systems

Geography

Global

Customer

Commercial communications OEMs and operators; aerospace/defense primes and government contractors/agencies

Role

Test & measurement instrumentation OEM + software platform + services provider

Revenue share

69.3%

Side-by-side metrics

Applied Materials, Inc.
Keysight Technologies, Inc.
Ticker / Exchange
AMAT - The Nasdaq Stock Market LLC
KEYS - New York Stock Exchange
Market cap (USD)
$203.3B
$34.9B
Sector
Technology
Technology
HQ country
US
US
Primary segment
Semiconductor Systems
Communications Solutions Group (CSG)
Market structure
Oligopoly
Oligopoly
Market share
16%-20% (implied)
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
76 / 100
69 / 100
Moat domains
Supply, Demand, Legal
Demand, Supply, Network
Last update
2025-12-22
2026-01-01

Moat coverage

Shared moat types

Design In QualificationService Field Network

Applied Materials, Inc. strengths

Scope EconomiesCapex Knowhow ScaleIP Choke PointInstalled Base ConsumablesLong Term Contracts

Keysight Technologies, Inc. strengths

Data Workflow LockinDe Facto StandardLearning Curve YieldBrand Trust

Segment mix

Applied Materials, Inc. segments

Full profile >

Semiconductor Systems

Oligopoly

73.3%

Applied Global Services (AGS)

Competitive

22.5%

Keysight Technologies, Inc. segments

Full profile >

Communications Solutions Group (CSG)

Oligopoly

69.3%

Electronic Industrial Solutions Group (EISG)

Oligopoly

30.7%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.