As previously reported, Craig-Hallum upgraded Applied Materials (AMAT) to Buy from Hold with a $450 price target The firm cites better-than-expected Q1 results and Q2 guidance, a more than 20% 2026 semi equipment growth outlook weighted to the second half of the year, and a meaningfully improved multi-year AI-driven demand profile supported by earlier-than-expected $1T semiconductor industry revenue, stronger visibility in advanced node chips, HBM and advanced packaging, and the company sees AI-driven demand to last an extended period.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AMAT:
- Video: Downgrades pile up as Wall Street unpins Pinterest
- Applied Materials price target raised to $440 from $390 at Needham
- Morning Movers: Tri Pointe surges after deal to be acquired
- Applied Materials price target raised to $470 from $425 at Cantor Fitzgerald
- Applied Materials price target raised to $450 from $315 at TD Cowen