Morgan Stanley Applied Materials · AMAT

Morgan Stanley Lowers Applied Materials Price Target to $538

Analyst: Shane Brett 1 min read Reproduced verbatim
Rating
Equalweight
Target
$538
from $563 (−4%)
Upside
+40%
AMAT at $384 today
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What the analyst said

Morgan Stanley analyst Shane Brett lowered the price target on Applied Materials (NASDAQ: AMAT) to $538 (from $563) while maintaining an Equalweight rating.

Disclaimer
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.

This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.

Where the price stands

AMAT trades at $384. The 8 analysts who set a target in the last 3 months range from $538 to $850, with a median of $685. This $538 target is 21% below the median, the lowest on the Street.

12-month window: day 0 of 365, closes on November 3, 2027.

Track record

This callOpen: a 12-month target, scored on November 3, 2027, a year after the note.

Firm track recordMorgan Stanley: 81% of its 48 targets at least a year old were reached within 12 months (#9 of 26 firms). Accuracy ranking →

Morgan Stanley on Applied Materials

Morgan Stanley price targets on Applied Materials

8 calls from February 25, 2026 to November 3, 2026. The target went from $432 to $538 (+25%). The rating moved from Buy to Hold.

Morgan Stanley targetAMAT share price
  1. November 3, 2026 This noteTarget cut from $563 (−4%)Hold$538
  2. September 28, 2026Target cut from $642 (−12%)Hold$563
  3. August 17, 2026Target cut from $647 (−1%)Hold$642
  4. July 6, 2026Target raised from $502 (+29%)Hold$647
  5. May 18, 2026Downgraded to Hold, kept the $502 targetHold$502
  6. May 15, 2026Target raised from $454 (+11%)Buy$502
  7. May 4, 2026Target raised from $432 (+5%)Buy$454
  8. February 25, 2026Earliest call shownBuy$432
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Other analysts on Applied Materials

CantorBuy Kept rating and price target Oct 20 $850maintained EvercoreBuy Kept rating and price target Oct 13 $700maintained CitiBuy Kept rating and price target Sep 8 $710maintained UBSBuy Raised price target +3%, kept rating Sep 1 $695from $675 MizuhoBuy Cut price target −9%, kept rating Aug 25 $590from $650
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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.