On September 4, Applied Materials rose 3.07% in pre-market trading, trading at $448.4/share, with turnover of approximately $19.66 million.
On the news front, UBS recently raised its price target on Applied Materials from $675 to $695 while maintaining a Buy rating, citing an optimistic outlook for the company's semiconductor systems business growth. The upgrade comes after the broader semiconductor equipment sector experienced collective selling pressure in the prior session driven by rising rate-hike expectations and elevated long-term Treasury yields.
The sector staged a broad rebound in pre-market trading, with peers ASML Holding up 2.48%, Lam Research up 3.02%, KLA Corporation up 3.61%, Teradyne up 2.68%, and AXT Inc up 5.34%. Multiple Wall Street firms have recently adjusted their outlooks on Applied Materials following its fiscal Q3 results, which showed revenue of $9.1 billion and adjusted EPS of $3.50, both exceeding consensus estimates. The company guided Q4 revenue midpoint to $10.25 billion, well above the $9.55 billion consensus, underscoring strong AI-driven demand visibility.
(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.)
