Summit Insights upgraded Applied Materials (AMAT) to Buy from Hold. Technology transitions across AI, smartphones, PCs, and IoT are expected to drive strong logic/foundry and DRAM spending in 2026, with AI-related WFE momentum likely extending through the first half of 2027, the analyst tells investors in a research note. Despite some risk in mainstream node spending, Applied Materials’ exposure to high-growth segments positions it and the broader semicap sector to potentially outperform semiconductor peers in 2026, the firm says.
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