Analog Devices reported $1.97 billion in industrial revenue for fiscal Q3 2026, up 53% year over year and 10% sequentially, driven by automation, automated test equipment, aerospace and defense, energy systems, and digital factory demand. Management guided high-single-digit sequential growth for the segment in Q4, aligning with its $4.3 billion total revenue outlook plus or minus $100 million. Recent acquisitions of Alif Semiconductor and Empower Semiconductor strengthen edge AI and high-density power capabilities for industrial and data center applications. Q4 results, due November 23, will determine the outcome amid ongoing competition from Texas Instruments and inventory normalization across broader industrial markets.