New York, June 11, 2026, 14:49 EDT
- Applied Materials was at $544.50 late Thursday, up $47.49, or 9.6%. Volume was around 6.6 million shares.
- Analysts at Barclays bumped their price target on Applied Materials to $590. Cantor Fitzgerald moved its target up to $650. Both flagged higher demand for chip equipment.
- Applied Materials opened a new $500 million campus in Singapore, more than doubling its advanced cleanroom space in the city-state. The move backs AI-driven chip demand.
Applied Materials Inc. shares jumped Thursday, with investors buying up semiconductor-equipment stocks linked to the AI infrastructure push. AMAT was at $544.50 at 14:49 EDT, up $47.49 on the day. The stock traded between $511.04 and $545.70 and market cap stood at roughly $435.1 billion.
The gains came as the U.S. market bounced. Reuters said Thursday afternoon the Dow Jones Industrial Average rose 1.4%, the S&P 500 gained 1.1% and the Nasdaq Composite added 1.4%, with tech stocks rebounding after the previous session’s drop.
New analyst price target hikes gave the rally more steam. Barclay’s Tom O’Malley upped the bank’s target for Applied Materials to $590 from $500 and left his Overweight call unchanged, TipRanks reported. Barclays cited a stronger cycle for capital spending in wafer-fab equipment, according to TipRanks.
Cantor Fitzgerald raised its price target on Applied Materials to $650 and kept an Overweight rating, Investing.com reported. The note pointed to higher chip-equipment demand. Foundry and logic spending at the leading edge is still seen as the main growth driver.
Applied Materials shares climbed after the company opened a new US$500 million Tampines Campus in Singapore, expanding its manufacturing and research footprint. The new site, which cost S$600 million, more than doubles Applied’s advanced cleanroom space in the city-state. The company said the facility is already running at volume production, serving chipmakers looking to ramp up output for AI demand.
Applied Materials’ president and CEO Gary Dickerson said in the company’s announcement, “AI is transforming every industry, creating unprecedented demand for advanced semiconductors.” The company said its Singapore expansion will also boost its manufacturing presence worldwide, listing the United States, Europe, Israel and Taiwan among its locations. Applied Materials
Channel NewsAsia says Applied’s Singapore expansion should add 1,000 jobs in manufacturing, R&D, head office and field service in the next few years. CNA also noted Applied will grow its internship program to 100 spots a year by 2027.
Applied Materials’ recent gains follow its fiscal second-quarter report in May. The company posted record revenue of $7.91 billion for the quarter, an 11% jump from a year ago, and record GAAP earnings per share of $3.51. For the fiscal third quarter, Applied is guiding for revenue of $8.95 billion, give or take $500 million.
Applied Materials (AMAT) broke above its previous record close Thursday, after finishing at $526.24 on Wednesday. Investing.com had reported the all-time high close, pointing to the company’s strength in semiconductor equipment and fresher higher earnings estimates.
The next question for the stock is if investors stick with Applied Materials after the strong jump, with the wafer-fab equipment outlook still on the rise. Wall Street is watching customer orders, Singapore buildout, and the company’s fiscal Q3 forecast to see if they can back up the higher analyst targets now in play.
