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Aanchal Sugandh

Bank of America Just Gave Applied Materials Stock a New Street-High Price Target

Applied Materials AMAT Semiconductor

Applied Materials (AMAT) has found itself in Wall Street's sweet spot after Bank of America Corporation turned even more bullish on the semiconductor industry's artificial intelligence (AI) driven future.

The investment firm now believes visibility into AI-related spending extends through 2028, prompting analysts led by Vivek Arya to lift their CY2027 wafer fab equipment forecast by 4% to $190 billion, representing 31% year-over-year (YOY) growth, up from the previous estimate of $183 billion and 27% growth.

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