Bond.az - Jefferies raised its price target on Applied Materials (NASDAQ:AMAT) to $510 from $415, maintaining a Buy rating. The stock trades at $440.56, near its 52-week high of $448.45, following a 154% gain over the past year.
Applied Materials lifted its calendar 2026 semiconductor equipment growth outlook to over 30% from prior over 20%. The company projects continued 20-30% growth through 2027. According to Bond.az data, 25 analysts revised earnings upward.
Customers now provide rolling eight-quarter forecasts extending to 2028. Over 10 new fab projects were added in the past 90 days. Applied Materials said current strength is not pulled forward demand; 2027 should remain strong.
Agentic AI workloads add CPU, DRAM, and NAND demand. New EPIC Center partnerships enable co-innovation with TSMC, Samsung, Micron, and others.
In other news, Applied Materials beat Q2 estimates and guided Q3 revenue above consensus at ~$8.95B. Stifel raised its target to $530, RBC Capital to $520, Mizuho to $500, UBS to $515, and KeyBanc to $550.
