Applied Materials stock jumps nearly 7% on fresh Wall Street targets as AI spending debate heats up
New York, Jan 11, 2026, 15:21 EST — Market closed Applied Materials, Inc. shares ended Friday up 6.9% at $301.18. The chip-equipment maker saw volatile trading, swinging between $280 and $302.70 before heading into Monday’s open. This matters since Applied offers one of the clearest signals on semiconductor capital spending — the budgets chipmakers allocate for new equipment — and investors are once again re-evaluating those 2026 budgets, trying to untangle AI-driven demand from the broader cycle. Friday’s rally extended across chip stocks following a weaker-than-expected U.S. jobs report that left rate-cut hopes mostly unchanged. The Philadelphia SE Semiconductor index