Cantor Fitzgerald Rates Applied Materials (AMAT) buy
Cantor Fitzgerald analyst C.J. Muse has reaffirmed a buy rating on Applied Materials, Inc., setting an $850 price target, a 26.91% upside from the current price.
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Cantor Fitzgerald rated Applied Materials, Inc. ($AMAT) "buy" with a $850 price target on June 29, 2026.
Since the rating, $AMAT is down 14.7% after 1 week, down 37.2% after 1 month and down 41.0% to date (from the $693.90 close on Jun 29, 2026).
AMAT
Applied Materials, Inc.
Key Points
- Cantor Fitzgerald analyst C.J. Muse reiterated a buy rating on Applied Materials, Inc. (NasdaqGS: AMAT) with an $850 price target on June 29, 2026.
- Cantor Fitzgerald's $850 price target implies 26.91% upside from Applied Materials, Inc.'s ($AMAT) current $669.74 share price.
- The stock traded at $669.74, placing it well above its 50-day moving average of $498.35 and its 200-day moving average of $417.26.
- Wall Street firms have issued a flurry of updates on the chip equipment maker, with Needham, Evercore ISI Group, and RBC Capital all adjusting their targets through October 2026.
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Cantor Fitzgerald Targets $850 for Applied Materials Shares
Cantor Fitzgerald analyst C.J. Muse reiterated a buy rating on Applied Materials, Inc. (NasdaqGS: AMAT) on June 29, 2026, setting an ambitious price target of $850. With the stock changing hands at $669.74, that target implies further upside from current trading levels. The firm's optimistic stance places a notable bet on the semiconductor equipment provider's future as chipmakers continue upgrading their manufacturing setups.
Cantor Fitzgerald vs. the S&P 500
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$AMAT price target
Applied Materials, Inc. daily closes and this analyst's $850 target. Not advice.
Where Applied Materials Stock Trades Today
Trading at $669.74, shares of Applied Materials sit near the upper end of their 52-week range, which spans from a low of $196.20 to a high of $739.67. The equity continues to show strength by resting well above its 50-day moving average of $498.35 and far ahead of its 200-day moving average of $417.26. Such positioning demonstrates strong upward momentum over the medium and long terms as the broader tech sector navigates shifting demand cycles for chip gear.
Recent Earnings and Revenue Performance
Applied Materials posted strong fundamental results leading up to these analyst updates, recording $30.84 billion in revenue over the trailing period with a robust annual growth rate of 24.8%. Profitability remains a key pillar for the business, evidenced by a trailing P/E ratio of 40.02 and a forward P/E ratio of 25.16 based on expected future earnings. Investors are now looking ahead to the company's next earnings report, which is scheduled for November 12, 2026, to gauge whether demand for its materials engineering equipment keeps pace.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
20 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 5.9%. Revenue beat estimates by 12.9%.
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Profit surprise
EBITDA beat by 52 percent. Operating income beat by 24 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
20 target raises.
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Earnings quality
Gross margin up 0.8 points. Operating margin up 1.3 points. Positive free cash flow.
Earnings Call Summary
Applied Materials delivered record revenue of $7.91 billion this quarter driven by strong artificial intelligence infrastructure demand. The company sees its highest gross margin in over 25 years at 50 percent. Management highlighted that artificial intelligence is diversifying beyond training into new areas like agentic applications, which increases demand for memory and processors, and they expect continued strong growth into 2027 and beyond as customers build new factories.
Guidance Applied expects about $8.95 billion in revenue next quarter, up nearly 23 percent from last year. The company expects earnings per share of $3.36, up nearly 36 percent. Management raised its full-year equipment growth outlook to more than 30 percent as artificial intelligence demand accelerates and customers add production capacity.
Clearly positive report. Results were better than expected, though the forward reset is not the strongest.
Dividend and Payout Details
Income-focused investors tracking the chip equipment manufacturer will note an annual dividend rate of $2.12 per share, translating to a dividend yield of 0.48%. The company supports this payout with a modest dividend payout ratio of 16.48%, leaving plenty of earnings retained inside the business to fund ongoing research and development in advanced semiconductor systems.
Analysts Set New Price Targets
Wall Street has remained active in reviewing Applied Materials as autumn progresses. On October 16, 2026, Needham maintained its Buy rating while cutting its price target to $580 from $740. A day earlier on October 15, 2026, Evercore ISI Group kept an Outperform rating with a target of $590, down from its prior $700 goal. RBC Capital maintained an Outperform rating at a $600 target on October 14, 2026. Earlier in the cycle, Morgan Stanley held an Equal-Weight rating with a $563 target on September 28, 2026, while UBS maintained a Buy rating at $695 on September 1, 2026, and Mizuho kept an Outperform rating at $590 on August 25, 2026. Argus Research held a Buy rating at $600 on August 18, 2026, and UBS previously adjusted its target to $675 on August 14, 2026.
Understanding Applied Materials and Its Market Role
Headquartered in Santa Clara, California, Applied Materials provides essential materials engineering solutions, equipment, services, and software to the global semiconductor industry. The enterprise operates primarily through its Semiconductor Systems and Applied Global Services segments, helping manufacturers build microchips efficiently. This latest analyst update from Cantor Fitzgerald arrives as part of ongoing coverage following earlier notes on firms like Rocket Lab and Strategy Inc.
What to Watch at Applied Materials, Inc.
Market participants will be closely monitoring the company's upcoming earnings release on November 12, 2026, for fresh updates on fab utilization and equipment orders. Cantor Fitzgerald's $850 target stands as a high benchmark among current estimates, keeping attention focused on whether the stock can bridge the gap between current market prices and Wall Street's higher forecasts.
Related Filing Alerts
Source: Cantor Fitzgerald's rating change on $AMAT (Jun 29, 2026). Written by software, not financial advice. How we make alerts