Applied Materials, IncNasdaq: AMAT
Information Technology · Semiconductor Materials & Equipment
$594.76
+4.67%
Vol: 8.3M
Research Digest
Wednesday, June 17, 2026
No significant overnight updates
No material news in the last 48 hours.
Previous Market Intelligence
13 daysJun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours. Recent catalysts (Singapore facility, Cantor and Barclays target hikes) are dated June 9-11, outside the 48-hour window.
Jun 14Applied Materials draws fresh Street price-target hikes on a multi-year AI-driven chip-equipment upcycle.Positive▶
Analysts turned more bullish on Applied Materials this week, with Barclays raising its price target to $590 from $500 on June 11 and Cantor Fitzgerald lifting its target to $650, citing a supply-constrained, multi-year upcycle in semiconductor equipment driven by AI infrastructure demand. The upgrades sent AMAT shares higher. On June 10 the company said it expanded its Singapore manufacturing and R&D footprint, including a new $500M Tampines campus, to support global AI chip build-out, and on June 9 it declared a cash dividend. Management has guided its semiconductor equipment business to grow more than 30% in calendar 2026. The main risk is that AI-equipment demand expectations are now elevated, leaving the stock vulnerable if the upcycle narrative cools or export restrictions tighten.
May 21Applied Materials jumped 4.9% after announcing Broadcom EPIC Innovation Partnership on May 20; multiple analysts raised PTs to $550+ following record Q2.Positive▶
Applied Materials announced a partnership with Broadcom as an EPIC Innovation Partner on May 20, sending shares up 4.9% in afternoon trading. Q2 2026 (reported May 14) delivered record revenue of $7.91B (+11% YoY), record GAAP EPS of $3.51 and non-GAAP EPS of $2.86 (+20% YoY). CEO Gary Dickerson stated the semiconductor equipment business will grow 30%+ in calendar 2026, with advanced packaging growing 50%+. The company raised its dividend 15% (9th consecutive year of increases) and announced an agreement to acquire ASMPT's NEXX large-area advanced packaging business. Deutsche Bank, B. Riley, Wolfe, Needham raised PTs to $550+. AMAT is +68% YTD and +159% over the past year. New EPIC Center partners added: TSMC, ASU, RPI, Stanford.
May 20Applied Materials posts record Q2 FY2026 revenue of $7.91B and EPS $3.51 alongside TSMC and SK hynix partnerships, with Morgan Stanley lifting PT to $502.Positive▶
Applied Materials reported record Q2 FY2026 revenue of $7.91B (+11% YoY), GAAP EPS of $3.51, and operating margin of 31.9%, comfortably beating estimates. Management guided Q3 revenue to $8.95B +/- $500M and now expects semiconductor equipment to grow more than 30% in calendar 2026, an upgrade from prior commentary. The company unveiled major partnerships with TSMC and SK hynix at its EPIC Center to accelerate next-gen logic, DRAM and HBM development, and disclosed an agreement to acquire ASMPT's NEXX business. The quarterly dividend was raised 15% to $0.53/share. Morgan Stanley raised its price target to $502 and lifted its full-year systems growth forecast from 28.6% to 34.2%. Risk: semis sold off recently on rising Treasury yields, and the move tightens valuation cushion.
May 19Applied Materials posts record Q2 revenue and 25-year-high margins on AI demand, analysts hike targetsPositive▶
Applied Materials reported record fiscal Q2 2026 revenue of $7.91 billion (up 11% YoY) and record non-GAAP EPS of $2.86, sending shares up about 6% after hours. Gross margin expanded to 50%, the highest in over 25 years, supported by pricing strength and product mix. The company guided Q3 revenue to $8.95 billion plus or minus $500 million, well above the $8.09 billion consensus, and expects semiconductor equipment to grow more than 30% in calendar 2026. AMAT also announced an agreement to acquire ASMPT's NEXX advanced packaging business and raised the dividend 15%. Citi lifted its PT to $520 from $420 and Cantor Fitzgerald raised PT to $575 from $550. Risk: high valuation and concentration exposure if AI capex slows.
May 18Applied Materials posts record Q2 2026 revenue of $7.91B with EPS of $2.86, raises 2026 outlook on AI-driven semiconductor equipment demand.Positive▶
Applied Materials reported record Q2 2026 revenue of $7.91 billion with non-GAAP EPS of $2.86, beating Wall Street estimates and sending shares up 6% in extended trading on May 14. CEO Gary Dickerson said the semiconductor equipment business is now expected to grow more than 30% in calendar 2026, driven by surging AI demand in foundry logic, DRAM, and advanced packaging. The company announced a 15% dividend hike (ninth consecutive increase), a partnership with TSMC at the EPIC Center, and an agreement to acquire ASMPT's NEXX advanced-packaging business. Q3 guidance came in at $8.95B revenue (plus-minus $500M), well above consensus. Multiple analysts raised price targets following the print. Risk: any pause in AI capex or escalation of China export controls could compress the elevated guidance.
May 15Applied Materials posts record Q2 revenue of $7.91B with $3.51 EPS, guides Q3 to $8.95B, announces TSMC and SK hynix EPIC Center partnerships and 15% dividend hikePositive▶
Applied Materials reported record Q2 FY26 revenue of $7.91B (above $7.82B consensus) with diluted EPS of $3.51 (+33.5% YoY), beating the $2.71 estimate. The company guided Q3 revenue to $8.95B +/- $0.5B and non-GAAP EPS of $3.36 +/- $0.20, well above the $2.90 consensus. AMAT announced an innovation partnership with TSMC and SK hynix at its $5B EPIC Center in Silicon Valley to advance sub-1nm logic and AI memory technologies, plus an agreement to acquire ASMPT's NEXX business. The board raised the quarterly dividend 15% to $0.53. Shares are up ~73% YTD on AI/HBM-driven demand. Analyst consensus is Strong Buy with 19 Buys and an average PT of $481.12. Risk: China export controls and customer concentration.
May 14Applied Materials reports Q2 FY26 earnings May 14 after-close; Citi hiked PT to $520 from $420 on May 12, with multiple analysts raising targets ahead of print on TSMC EPIC partnershipPositive▶
Applied Materials is set to report fiscal Q2 2026 results on May 14, 2026 after the close, with Wall Street expecting EPS of $2.68 (+8.1% YoY) and revenue of $7.69B (+5.3% YoY). On May 11, AMAT announced TSMC joined its $5B EPIC Center as a founding partner (with ASU, RPI, and Stanford), sending shares up 6% in a single session. Citi raised its PT to $520 from $420 on May 12, expanding the P/E multiple from 30x to 33x citing favorable DRAM/FEOL mix in 2026-2027; Cantor Fitzgerald hiked to $550, UBS to $480, and HSBC to $517. AMAT is up 68% YTD and 159% over the past year. CEO Gary Dickerson guided semi equipment business growth of >20% in CY2026. Risk: stock is priced for a strong beat-and-raise; any guidance disappointment after such a run could trigger a sharp pullback.
May 13Applied Materials reports fiscal Q2 earnings May 14; Cantor, Citi, and Morgan Stanley all raise price targets ahead of print.Positive▶
Applied Materials reports fiscal Q2 2026 earnings on May 14 at 4:30pm ET. Multiple analysts raised price targets ahead of the print: Cantor Fitzgerald increased to $550 from $500 on May 11, Citi raised to $520 from $420, and Morgan Stanley adjusted to $454 citing strong AI infrastructure momentum. AMAT is making strategic strides through a new partnership with TSMC and the launch of its EPIC Center for advanced semiconductor R&D. The company entered a definitive agreement with ASMPT Limited to acquire its NEXX business. AMAT also raised its quarterly dividend 15% to $0.53 per share, payable June 11. Stock has surged 179.83% over the past year, heavily outpacing the S&P 500 and XLK ETF, driven by AI chip demand.
May 12Applied Materials partnered with TSMC at the EPIC Center on May 11 to accelerate AI scaling and acquired ASMPT's NEXX advanced packaging unit, with Morgan Stanley lifting PT to $454 ahead of May 14 Q2 earnings.Positive▶
Applied Materials announced a major innovation partnership with TSMC on May 11, 2026 to advance materials engineering, equipment, and process integration at its Silicon Valley EPIC Center; ASU, RPI, and Stanford also joined the EPIC Center. On May 3, AMAT announced an agreement to acquire ASMPT's NEXX business, a leading supplier of large-area advanced packaging deposition equipment for AI accelerator manufacturing. The company reports fiscal Q2 2026 earnings on May 14, with consensus EPS at $2.66 (+11.3% YoY) on DRAM/HBM strength. Morgan Stanley raised its PT to $454 citing AI infrastructure momentum and expected higher July guidance, while Seaport Research initiated coverage at strong-buy with a $500 PT. Dividend was increased 15% to $0.53/share. One-year return stands at ~168%.
May 11Applied Materials acquires NEXX to expand advanced packaging portfolio; Morgan Stanley raises PT to $454 ahead of May 14 Q2 earningsPositive▶
Applied Materials announced the acquisition of NEXX on May 3, 2026, broadening its advanced packaging portfolio. The company confirmed its fiscal Q2 2026 earnings call for May 14, 2026. Morgan Stanley raised the price target to $454, citing strong AI infrastructure momentum and expecting higher July guidance, increased 2026 outlook, and gross margin expansion. CEO Gary Dickerson and SVP Tim Deane will participate in JPMorgan TMT and Bernstein Strategic Decisions conferences later this month. Overall tone is positive heading into earnings.
May 8Seaport Global initiates Buy rating with $500 price target on May 4, citing semiconductor strength.Positive▶
Applied Materials received a Buy rating from Seaport Global with a $500 price target on May 4, 2026. The company has an upcoming earnings report on May 14 with analyst projections of $2.68 EPS and $7.69 billion revenue. AMAT stock has surged 164% over the past 52 weeks and is up 60% year-to-date, reflecting strong AI-driven semiconductor demand. The consensus rating from 38 analysts is Strong Buy with an average price target of $417.55.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| AMATAPPLIED | $594.76 | +4.67% | +45.7% | 36.5x | 1.67 | $470.8B |
| LRCXLAM | $375.05 | +1.55% | +36.9% | 46.9x | 1.87 | $467.9B |
| KLACKLA | $238.94 | +0.68% | -86.3% | 47.3x | 1.50 | $311.8B |
| TERTERADYNE | $410.76 | +0.34% | +27.1% | 43.0x | 1.79 | $64.0B |
| QQNITY | $156.81 | +3.00% | +7.9% | 32.7x | — | $32.8B |
| NVDANVIDIA | $204.70 | -1.31% | -7.2% | 16.1x | 2.20 | $4.96T |
Key Fundamentals
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Price above both MAs — bullish structure.