Applied Materials (AMAT) surged 5.03% during Friday's trading session, reflecting strong investor confidence in the semiconductor equipment giant.
The rally was fueled by a series of analyst upgrades, including Goldman Sachs raising its price target to $310 from $250 and Cantor Fitzgerald lifting its target to $425 from $350. Mizuho also adjusted its target to $275, maintaining a Neutral rating.
The broader semiconductor sector saw gains after TSMC reported better-than-expected revenue, boosting sentiment across the industry. Applied Materials, as a key player in semiconductor manufacturing equipment, benefited from this sector-wide optimism.
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