Movement Alert|Applied Materials Rises 3.22% Overnight, Semiconductor Equipment Sector Rebound Continues with Institutional Target Price Support

Market Focus
14 hours ago

On July 31, Applied Materials rose 3.22% overnight, trading at $518.53/share, with turnover of $148,300.

On the news front, after enduring consecutive days of pressure from renowned short-seller Michael Burry's bearish positions, AI capital expenditure return concerns, and China lithography competition fears, the semiconductor equipment sector has mounted a collective strong rebound. Peers including Lam Research, KLA-Tencor, and Teradyne continued to advance, with sector-wide momentum extending Applied Materials' recovery trend. Additionally, HSBC, Citi, and UBS previously raised their target prices for Applied Materials to a range of $683 to $705, with the average analyst target price at $641.61, implying significant upside from current levels and providing firm valuation support.

The company is scheduled to report fiscal third-quarter earnings on August 13, with market consensus expecting EPS of $3.36, which constitutes a near-term catalyst.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10