Applied Materials price target raised to $390 from $310 at Goldman Sachs

Goldman Sachs analyst James Schneider raised the firm’s price target on Applied Materials (AMAT) to $390 from $310 and keeps a Buy rating on the shares. The stock is expected to sustain gains after a strong quarter and above-Street guidance, with management projecting over 20% growth for its semiconductor equipment business in CY26, the analyst tells investors in a research note. Tailwinds from increased spending on foundry/logic, DRAM, and advanced packaging, coupled with mix-related benefits, position the company to outperform peers, Goldman adds.