Applied Materials is America's biggest semiconductor equipment manufacturer. They are a R&D leader and without the work they do, we would not have the sophisticated chips we have today. Just as the number of foundries capable of fabbing at the leading edge is shrinking, the set of potential manufacturers capable of making leading edge chip making tools is shrinking too. The two or three who are left are some of the very best in the business. In this video, we will continue our exploration of the chip making supply chain and do a deep dive into this unheralded but vital company. Errata: 17:08 - It says Samsung on both pie charts, but the one on the right should say "Intel", not "Samsung". Fail whale. Links: - The Asianometry Newsletter: https://asianometry.com/ - Patreon: https://www.patreon.com/Asianometry