On May 27, Applied Materials rose 3.05% in pre-market trading, trading at $467.1/share, with trading volume of $16.54 million.
On the news front, Applied Materials announced that SCREEN Semiconductor Solutions has joined its EPIC Center in Silicon Valley as an innovation partner. The collaboration will combine Applied Materials' deposition and dry-etch expertise with SCREEN's wafer-cleaning and surface-preparation technologies to develop co-optimized end-to-end solutions for next-generation chips, aiming to increase yields and accelerate production commercialization.
The partnership deepens a long-standing joint development relationship and comes amid strong momentum for the company. Applied Materials recently reported record Q2 FY2026 revenue and EPS that significantly beat expectations, with semiconductor equipment business growth projected to exceed 30%. Multiple investment banks including Argus (target $500), Wolfe Research ($550), and Bernstein ($525) have raised price targets, while Bernstein lifted its global wafer fab equipment spending forecast to $148 billion, representing 21.4% year-over-year growth. The broader semiconductor equipment sector moved higher in tandem, with Lam Research up 3.66%, KLA up 2.71%, and Teradyne up 4.05%.
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