Applied Materials (AMAT) Stock Outlook – December 4, 2025: TD Cowen Lifts Target to $315 as AI Boom and India Deal Drive New Highs
Applied Materials, Inc. (NASDAQ: AMAT) is closing out 2025 trading near record highs after a 60%+ year‑to‑date rally, powered by the AI semiconductor boom, strong fiscal 2025 earnings and a wave of analyst upgrades. On December 4, TD Cowen raised its price target on AMAT to $315 and called the stock its “best idea for 2026,” underscoring growing conviction that the company sits at the heart of the next phase of chipmaking investment. Investing.com At the same time, Applied Materials has just been awarded a role in a ₹4,500 crore (roughly $540–550 million) project to modernise India’s only government‑run chip