Applied Materials (NASDAQ: AMAT) Price Target Lowered to $600 by Bernstein SocGen Group
- Bernstein SocGen Group lowered its price target for Applied Materials to $600.
- Applied Materials reported increased fourth-quarter 2026 sales and profit, driven by demand for semiconductor services.
- The company forecasted quarterly revenue above estimates, fueled by strong demand for AI chips.
Applied Materials (NASDAQ: AMAT) provides semiconductor services. Bernstein SocGen Group lowered its price target for Applied Materials to $600. Applied Materials traded at $380.95 when the target was posted.
Applied Materials’ fourth-quarter 2026 sales and profit rose amid demand for semiconductor services driven by artificial intelligence. The company posted a profit of $2.72 billion.
Applied Materials forecast quarterly revenue above estimates, driven by strong demand for AI chips.
Applied Materials shares traded at $380.95, down $14.13, or 3.58%. The stock traded between $376.14 and $397.20 during the day, with volume of 8.9 million shares. Its 52-week range is $203.40 to $739.67, and its market capitalization is about $302.3 billion.
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