European Investor
29 Jun 2026, 14:51
Applied Materials Stock Jumps 7% as Analysts Raise Price Targets
Applied Materials (NASDAQ: AMAT) shares climbed more than 7% on Monday after several Wall Street firms reaffirmed their bullish outlook on the semiconductor equipment maker, citing continued strength in AI-driven chip manufacturing demand.
Cantor Fitzgerald reiterated its Overweight rating and raised its price target to $850 from $650, implying significant upside from current levels. KeyCorp also maintained an Overweight rating while increasing its target to $750 from $550, reflecting growing confidence in the company's long-term growth prospects. Meanwhile, HC Wainwright initiated or set a price target of $850.
The wave of optimistic analyst actions reinforced investor confidence in Applied Materials' position as a key supplier to the semiconductor industry, particularly as advanced chipmakers continue expanding capacity to support artificial intelligence and high-performance computing applications.
The rally also comes amid a broader advance in technology stocks, with easing geopolitical tensions and renewed risk appetite lifting semiconductor names across the market. Investors remain optimistic that sustained AI infrastructure spending will continue to drive demand for wafer fabrication equipment, providing a favorable backdrop for Applied Materials' business.
Applied Materials shares are trading around $675, up approximately 7.7% during Monday's session.
Applied Materials (NASDAQ: AMAT) shares climbed more than 7% on Monday after several Wall Street firms reaffirmed their bullish outlook on the semiconductor equipment maker, citing continued strength in AI-driven chip manufacturing demand.
Cantor Fitzgerald reiterated its Overweight rating and raised its price target to $850 from $650, implying significant upside from current levels. KeyCorp also maintained an Overweight rating while increasing its target to $750 from $550, reflecting growing confidence in the company's long-term growth prospects. Meanwhile, HC Wainwright initiated or set a price target of $850.
The wave of optimistic analyst actions reinforced investor confidence in Applied Materials' position as a key supplier to the semiconductor industry, particularly as advanced chipmakers continue expanding capacity to support artificial intelligence and high-performance computing applications.
The rally also comes amid a broader advance in technology stocks, with easing geopolitical tensions and renewed risk appetite lifting semiconductor names across the market. Investors remain optimistic that sustained AI infrastructure spending will continue to drive demand for wafer fabrication equipment, providing a favorable backdrop for Applied Materials' business.
Applied Materials shares are trading around $675, up approximately 7.7% during Monday's session.