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Applied Materials's management tone tended to become more positive when quarterly net income improved.
Does not remain notable after adjusting for hundreds of tests. Why?
The analysis measures a same-filing relationship, not a forecast. Limitations
Each dot represents one 10-Q filing. Points farther right have more positive MD&A tone. Points higher on the chart had stronger year-over-year net income growth, after extreme percent changes are capped. Upper-right and lower-left points indicate tone and earnings moving in the same direction. How to read this chart
Tone and earnings moved in the same direction in 7 of 8 comparable quarters.
7 / 8 direction agreement
How is agreement calculated?| Spearman ρ (exact) | 0.371 (p=0.173) |
|---|---|
| Pearson r | 0.260 (p=0.349) |
| 95% CI (Pearson) | [-0.29, 0.68] |
| FDR q | 0.605 |
| Sample size (n) | 15 · More established sample |
| Agreement | 7 / 8 (7 / 8) |
Secondary to net income because revenue concepts are less comparable across some industries.
Annual samples are shorter and are not mixed into the default quarterly board.
Tone shown to three decimals so small nonzero values stay visible.
| Date | Form | Tone | Net income YoY | Revenue YoY |
|---|---|---|---|---|
| Aug 20, 2026 | 10-Q | +0.132 | +42.7% | +24.8% |
| May 21, 2026 | 10-Q | +0.121 | +31.3% | +11.4% |
| Feb 19, 2026 | 10-Q | +0.098 | +71.0% | -2.1% |
| Aug 21, 2025 | 10-Q | +0.128 | +4.3% | +7.7% |
| May 22, 2025 | 10-Q | +0.087 | +24.1% | +6.8% |
| Feb 20, 2025 | 10-Q | +0.066 | -41.3% | +6.8% |
| Aug 22, 2024 | 10-Q | +0.060 | +9.3% | +5.5% |
| May 23, 2024 | 10-Q | +0.060 | +9.3% | +0.2% |
| Feb 27, 2024 | 10-Q | +0.043 | +17.6% | -0.5% |
| Aug 24, 2023 | 10-Q | -0.015 | -2.9% | -1.5% |
| May 26, 2023 | 10-Q | -0.013 | +2.5% | +6.2% |
| Feb 23, 2023 | 10-Q | +0.017 | -4.2% | +7.5% |
| Aug 25, 2022 | 10-Q | -0.042 | -6.4% | +5.2% |
| May 26, 2022 | 10-Q | -0.037 | +15.5% | +11.9% |
| Feb 24, 2022 | 10-Q | -0.018 | +58.6% | +21.5% |
| Date | Form | Tone | Net income YoY | Revenue YoY |
|---|---|---|---|---|
| Dec 12, 2025 | 10-K | -0.068 | -2.5% | +4.4% |
| Dec 13, 2024 | 10-K | -0.079 | +4.7% | +2.5% |
| Dec 15, 2023 | 10-K | -0.089 | +5.1% | +2.8% |
| Dec 16, 2022 | 10-K | -0.061 | +10.8% | +11.8% |
| Dec 17, 2021 | 10-K | -0.077 | +62.7% | +34.1% |