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Barchart
Anushka Dutta

Why Applied Materials Just Got a New Street-High Price Target

Applied Materials AMAT Wells Fargo Semiconductor Citi

Wells Fargo has turned more bullish on chip equipment supplier Applied Materials (AMAT) as the AI-led demand for advanced chipmaking continues to gain momentum. Raising the price target to a Street-high of $715 (implying 22% upside from current levels), and maintaining a firm “Overweight” rating means they believe it should outperform the broader market. In a research note, the firm stated that it continues to expect positive semi-cap results.

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