Movement Alert|Applied Materials Rises 3.17% in Regular Trading, Philadelphia Semiconductor Index Turns Positive Driving Sector Strength

Market Focus07-23 22:07

On July 23, Applied Materials rose 3.17% in regular trading, trading at $569.495/share, with turnover of $524 million.

On the news front, the Philadelphia Semiconductor Index turned positive during the session, with component stocks Micron rising over 3% and Coherent gaining over 2%. Applied Materials, as a leading semiconductor equipment maker, rallied in tandem with the broader chip sector recovery.

On the institutional side, Citi and UBS have both raised their target price on Applied Materials to $705, while Jefferies lifted its global wafer fabrication equipment market size forecast to $253 billion by 2028, reflecting long-term optimism on AI-driven equipment demand. Additionally, the company announced it will report fiscal third quarter 2026 results on August 13, with consensus EPS expectations at $3.36.

Within the Semiconductor Equipment sector, AXT Inc up 6.88%, Teradyne up 1.99%, Lam Research up 1.08%, KLA-Tencor up 0.78%, ASML Holding NV up 0.58%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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