What the analyst said

Argus analyst James Kelleher raised the price target on Applied Materials (NASDAQ: AMAT) to $500.00 (from $420.00) while maintaining a Buy rating.

“Applied has increased its dividend for nine consecutive years, including double-digit hikes in 2026, 2025, and 2024. The AMAT board has also approved a share repurchase authorization enabling the company to buy back an additional $10 billion of its shares.

Over the past 10 years, Applied has distributed nearly 90% of free cash flow to shareholders. Following incentive-driven growth in U.S. semiconductor production from the CHIPS Act, the Trump administration has expressed its commitment to growing the U.S. semiconductor industry.

Despite rallying with the tech sector and perceived AI beneficiaries, AMAT appears attractive on prospects for long-term top-line growth and margin expansion, as well as on valuation. We are reiterating our BUY rating and raising our 12-month target price to $500 from $420.”

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Where the price stands

AMAT trades at $395. The 7 analysts who set a target in the last 3 months range from $538 to $850, with a median of $695. This $500 target is 28% below the median, the lowest on the Street.

Since the note AMAT has moved −4% (from $414). 12-month window: day 176 of 365, closes on May 19, 2027.

Track record

This call✓ Target reached on June 3, 2026, 15 days after the note.

Firm track recordToo early to score Argus: price targets are 12-month calls and fewer than 5 of its targets are a year old. 8 of its 14 open targets have already been reached. How we score

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Other analysts on Applied Materials

Morgan StanleyHold Cut price target −4%, kept ratingCut target Nov 3 $538from $563−4% CantorBuy Kept rating and price targetReiterated Oct 20 $850maintained EvercoreBuy Kept rating and price targetReiterated Oct 13 $700maintained Morgan StanleyHold Raised price target +22%, kept ratingRaised target Sep 28 $563from $462+22% CitiBuy Kept rating and price targetReiterated Sep 8 $710maintained
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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.