Jun. 11 at 8:12 PM
Applied Materials shares rallied to a new 52-week high after several analysts raised their price targets, driven by growing optimism around AI-related semiconductor demand. Cantor Fitzgerald lifted its target to a Street-high
$650 from
$575, maintaining an Overweight rating and citing a multiyear upcycle in wafer fabrication equipment with strong order visibility through 2028. Barclays also raised its target to
$590 from
$500 after increasing its 2027 WFE market forecast.
The bullish sentiment followed Applied Materials' record fiscal Q2 2026 results, including
$7.91 billion in revenue and record EPS. The company also raised its outlook for 2026 semiconductor equipment growth to more than 30%, up from a prior forecast of over 20%, as AI infrastructure investments accelerate globally.
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