New York, Jan 23, 2026, 19:17 EST — After-hours
Applied Materials Inc shares ended Friday up roughly 1.1%, closing at $322.38. The boost came after Deutsche Bank upgraded the chip-equipment manufacturer to “Buy,” raising its price target sharply from $275 to $390. (Investing.com South Africa)
The news hit while the stock was already close to its peak. AMAT ended the day about 3.2% shy of its 52-week high of $333.03, which it had reached just the day before. The broader market was mixed, with the S&P 500 barely up and the Dow slipping. Volume came in around 6 million shares, below its 50-day average, according to MarketWatch data. (MarketWatch)
Applied Materials announced Thursday that it will hold its fiscal first-quarter earnings call on Feb. 12 at 4:30 p.m. ET. The timing gives investors a clear date for updates on guidance and demand. The call comes after market close, with a replay available that same day. (GlobeNewswire)
Deutsche Bank analyst Melissa Weathers said the firm raised its estimates, citing a “much more constructive” outlook for wafer fab equipment in 2026 and 2027. This equipment, essential for chipmakers to produce semiconductors, typically moves in line with capital-spending cycles. (TipRanks)
Shares of Lam Research slipped around 1.3% to $217.94 on Friday, underperforming Applied Materials. The mixed moves among peers add to the uncertainty heading into next week’s trading. (MarketWatch)
U.S. markets were closed over the weekend, setting the stage for Monday, Jan. 26, when investors will see if the upgrade sticks. On Friday, the stock swung between $311.25 and $323.62, underscoring the rapid back-and-forth among traders in equipment shares.
The upcoming phase of chip-factory investment carries significant weight. Investors have driven up equipment stocks, betting that demand for cutting-edge logic and advanced packaging will stay strong even as other chip segments falter.
But the situation isn’t without risks. Applied Materials has previously cautioned that stricter U.S. export regulations might dent its earnings. Back in October, the company flagged an estimated $600 million blow to fiscal 2026 revenue linked to expanding chip export restrictions. (Reuters)
Timing poses another risk. Even with spending plans unchanged, orders may shift between quarters as customers adjust tool deliveries, often causing the shares to swing more sharply than the underlying fundamentals would suggest.
The calendar is clear for now. Traders will see if Monday extends the momentum from the Deutsche note, before attention shifts sharply to Feb. 12, when Applied Materials reports earnings and fields questions.
