What the analyst said

Stifel analyst Brian Chin lowered the price target on Applied Materials (NASDAQ: AMAT) to $600 (from $650) while maintaining a Buy rating.

“F4Q(Oct) results modestly exceeded ours/cons estimates, with DRAM notably strong (+44% QQ, 1/3 of system sales). Notably, China +5% QQ versus +68% QQ for peers; ex-China AMAT F4Q revenue +18% QQ above peers +10% QQ.F1Q(Jan) revenue guide (mid-pt $11.1B, +7% QQ), above cons.

($10.9B), meeting expectations for mid-single digit guide, with the bar lowered after Lam guided its C4Q sales +5% QQ on supply chain constraints.In CY26, Applied semicap revenue tracking >40% YY and company projects CY27 WFE up >30% YY, reiterating its view to outgrow next year and by 200bps+ through CY30.

Despite near-term supplier “pinch-points”, sees quarterly output improving across CY27.No sign of customer delays, rather customers are giving earlier PO visibility and 3-4 yr project pipeline continues to expand.Our estimate outlook improves modestly, with TP adjusted lower on market volatility.

Remain upbeat on stock/set-up after recent pullback on rate of datacenter buildout fears.”

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Where the price stands

AMAT trades at $360. The 15 analysts who set a target in the last 3 months range from $470 to $850, with a median of $520. This $600 target is 15% above 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 recordStifel: 83% of its 42 targets at least a year old were reached within 12 months (#5 of 26 firms). Accuracy ranking →

Stifel on Applied Materials

Stifel price targets on Applied Materials

6 calls from January 14, 2026 to November 13, 2026. The target went from $340 to $600 (+76%). The rating stayed Buy.

Stifel targetAMAT share price
  1. November 13, 2026 This noteTarget cut from $650 (−8%)Buy$600
  2. July 10, 2026Target raised from $530 (+23%)Buy$650
  3. May 15, 2026Target raised from $500 (+6%)Buy$530
  4. May 12, 2026Target raised from $450 (+11%)Buy$500
  5. February 13, 2026Target raised from $340 (+32%)Buy$450
  6. January 14, 2026Earliest call shownBuy$340
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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% NeedhamBuy Cut price target −19%, kept ratingCut target Nov 13 $470from $580−19% 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.