What the analyst said

Needham analyst N. Quinn Bolton raised the price target on Applied Materials (NASDAQ: AMAT) to $530.00 (from $440.00) while maintaining a Buy rating.

“Applied Materials reported strong C1Q26 results, with revenue of $7.91B (+13% QoQ) at the high-end of guidance, and non-GAAP gross margins at 50% on strong mix. Revenue was guided to $8.95B (+13% QoQ), well above consensus estimates, with NG GM expected to maintain at the current level.

Management has raised their CY26 outlook with Semi systems growth >30% (vs. prior >20%), as 80% of WFE growth in CY26 expected from leading-edge foundry/logic, DRAM and advanced packaging. Visibility is the clearest management has ever seen, with customers providing 8-quarter rolling forecasts.

Importantly, the company believes it has the capacity to meet this demand, and the implied deceleration beyond July is due to customer timing, which clearly implies upside potential. Our new PT is raised to $530, 32x our CY27 EPS of $16.44. Maintain Buy.”

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Where the price stands

AMAT trades at $362. The 15 analysts who set a target in the last 3 months range from $470 to $850, with a median of $520. This $530 target is 2% above the median.

Since the note AMAT has moved −18% (from $441). 12-month window: day 182 of 365, closes on May 15, 2027.

Track record

This call✓ Target reached on June 11, 2026, 27 days after the note.

Firm track recordNeedham: 100% of its 6 targets at least a year old were reached within 12 months. Accuracy ranking →

Earnings reactionOne of 18 notes after Applied Materials’s May 14 results: 18 raised · 0 cut · 0 kept. See every call →

Needham on Applied Materials

Needham price targets on Applied Materials

3 calls from February 13, 2026 to November 13, 2026. The target went from $440 to $470 (+7%). The rating stayed Buy.

Needham targetAMAT share price
  1. November 13, 2026Target cut from $530 (−11%)Buy$470
  2. May 15, 2026 This noteTarget raised from $440 (+20%)Buy$530
  3. February 13, 2026Earliest call shownBuy$440
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Other analysts on Applied Materials

Morgan StanleyHold Cut price target −6%, kept ratingCut target Nov 13 $507from $538−6% B RileyBuy Raised price target +5%, kept ratingRaised target Nov 13 $500from $475+5% JP MorganBuy Cut price target −24%, kept ratingCut target Nov 13 $500from $660−24% StifelBuy Cut price target −8%, kept ratingCut target Nov 13 $600from $650−8% Wells FargoBuy Cut price target −18%, kept ratingCut target Nov 13 $500from $610−18%
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.