Needham Raises Applied Materials Price Target to $440
Needham analyst N.
Quinn Bolton raised the price target on Applied Materials (NASDAQ: AMAT) to $440.00 (from $390.00) while maintaining a Buy rating.
“Applied Materials delivered an unmistakable beat-and-raise quarter that investors have dearly missed for quite some time.
Without guiding WFE, AMAT guided CY26 semi equipment revenue to grow over 20%, clearing a high bar that was set by some peers who reported earlier.
Management sees strong WFE growth should sustain into CY27, primarily driven by leading-edge logic, DRAM/HBM, and advanced packaging,in all of which AMAT sees itself well positioned as the #1 process equipment supplier.
This is finally the narrative-changing quarter that we have been waiting for. Our estimates come up nicely following the print. Our PT is raised to $440. Reiterate Buy.”
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