Mizuho Applied Materials · AMAT

Mizuho Lowers Applied Materials Price Target to $510

Analyst: Vijay Rakesh 1 min read Reproduced verbatim
Rating
Outperform
Target
$510
from $590 (−14%)
Upside
+34%
AMAT at $381 today

2nd-lowest of 10 current targets on Applied Materials, 18% below the $620 median. Mizuho has reached 89% of its year-old targets (70 scored).

Mizuho and Applied Materials logos

What the analyst said

Mizuho analyst Vijay Rakesh lowered the price target on Applied Materials (NASDAQ: AMAT) to $510 (from $590) while maintaining an Outperform rating.

“AMAT reported a solid OctQ and guided JanQ to $11.1B (just above consensus $10.9B), noting continued demand in key end markets. Key points: 1) AMAT noted >10 new fabs/line expansions for the third straight quarter, and 20 coming online in C27E,

2) AMAT sees C26/27E WFE up >40%/>30% y/y with its revenue outpacing the WFE as leading-edge foundry/logic, DRAM/HBM a 50% SAM upside and advanced packaging lead the way,

3) JanQ Rev/EPS guided to $11.1B/$4.35, up 7% q/q, just above consensus $10.9B/$4.26, and

4) AGS reiterated at mid-teens% LT CAGR with AIx adding 20% new chambers/year.

Maintain Outperform, adjust ests/PT to $510, as we see AMAT well-positioned, growing share as a leading AI supply-chain enabler with strong visibility into 2027E+.”

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Where the price stands

AMAT trades at $381. The 10 analysts who set a target in the last 3 months range from $500 to $850, with a median of $620. This $510 target is 18% below the median.

12-month window: day 0 of 365, closes on November 13, 2027.

Track record

This callOpen: a 12-month target, scored on November 13, 2027, a year after the note.

Firm track recordMizuho: 89% of its 70 targets at least a year old were reached within 12 months (#2 of 26 firms). Accuracy ranking →

Mizuho on Applied Materials

Mizuho price targets on Applied Materials

8 calls from January 27, 2026 to November 13, 2026. The target went from $370 to $510 (+38%). The rating stayed Buy.

Mizuho targetAMAT share price
  1. November 13, 2026 This noteTarget cut from $590 (−14%)Buy$510
  2. August 25, 2026Target cut from $650 (−9%)Buy$590
  3. August 14, 2026Kept the $650 targetBuy$650
  4. July 9, 2026Target raised from $540 (+20%)Buy$650
  5. May 27, 2026Target raised from $500 (+8%)Buy$540
  6. May 15, 2026Target raised from $410 (+22%)Buy$500
  7. February 13, 2026Target raised from $370 (+11%)Buy$410
  8. January 27, 2026Earliest call shownBuy$370
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Other analysts on Applied Materials

BernsteinBuy Cut price target −14%, kept ratingCut target Nov 13 $600from $700−14% UBSBuy Cut price target −8%, kept ratingCut target Nov 13 $640from $695−8% Bank of AmericaBuy Cut price target −20%, kept ratingCut target Nov 13 $520from $650−20% KeyBancBuy Kept rating and price targetReiterated Nov 13 $750maintained TD CowenBuy Cut price target −29%, kept ratingCut target Nov 13 $500from $700−29%
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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.