Cisco and Applied Materials report quarterly results on Thursday 12 November, offering the week's clearest test of whether spending on artificial intelligence infrastructure is holding up after the technology sell-off.

The largest technology companies have already told investors a great deal about their AI spending. This week the focus shifts to the businesses supplying the equipment and connectivity behind it. Both companies report after the US market closes, and their results will be read for what they say about enterprise demand, order books and management guidance, not just the headline numbers.

What to watch at Cisco Cisco reports fiscal first-quarter results, with analysts expecting earnings of about $1.32 a share on revenue of about $18.11 billion, according to TheStreet Pro. The company's own guidance, issued in August, pointed to revenue of $18.0 billion to $18.2 billion and non-GAAP earnings of $1.32 to $1.34 a share. Investors will watch whether AI orders are turning into completed deliveries, and what Cisco says about corporate networking and data-centre demand.

Applied Materials and the chip test Applied Materials reports fiscal fourth-quarter and full-year results the same evening, with analysts expecting earnings of about $4.06 a share on revenue of about $10.30 billion. As a supplier of semiconductor manufacturing equipment, its order trends offer a different view of the same question: whether chipmakers are still expanding capacity, or pulling back after a period of heavy investment. Its earnings call is scheduled for 4:30pm Eastern time.

The week also brings October's US consumer price data on Tuesday, producer prices on Friday, and a Wednesday on which stocks trade while the bond market is closed for Veterans Day. Monday's reporters include Constellation Energy, KKR, Occidental Petroleum and Take-Two Interactive, with Rocket Lab due after the close.

[Source: independentinvestor.com](https://www.independentinvestor.com/week-ahead/) | [Source: pro.thestreet.com](https://pro.thestreet.com/earnings/week/2026-11-09)