Applied Materials price target raised to $520 from $390 at Goldman Sachs

Goldman Sachs analyst James Schneider raised the firm’s price target on Applied Materials (AMAT) to $520 from $390 and keeps a Buy rating on the shares. Applied Materials is expected to hold recent gains after a strong quarter and above-Street guidance, with management’s raised outlook for over 30% semiconductor equipment growth in CY26 reinforcing confidence in its growth trajectory and supporting a potential valuation re-rating as concerns around China market share give way to improving mix from foundry, DRAM, and advanced packaging demand, the analyst tells investors in a research note.