Aug. 12 at 12:00 PM
$AMAT Applied Materials price target raised to
$650 from
$540 at Lynx
Lynx raised the firm's price target on Applied Materials to
$650 from
$540 citing higher wafer fab equipment and earnings estimates. Demand for wafer fab equipment "appears to be rising by the month with a quiet ferocity the Street is under-appreciating," the analyst tells investors in a research note. Lynx is "materially more bullish" on the semiconductor capital equipment sector on a fundamentals basis relative to a month ago into Applied Materials' earnings call this week. The firm upped its 2026 WFE estimate to
$160B, or 45% growth year-over-year, and its 2027 estimate to
$225B from
$205B previously. Lynx recommends being long Applied Materials shares into earnings.
