Wells Fargo Rates Applied Materials (AMAT) buy, $740 Price Target
Wells Fargo has reiterated its buy rating on Applied Materials, increasing the price target to $740.00, a 5.81% upside from the current price.
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Wells Fargo rated Applied Materials, Inc. ($AMAT) "buy" with a $740 price target on June 26, 2026.
Since the rating, $AMAT is down 5.4% after 1 week, down 17.5% after 1 month and down 34.6% to date (from the $626.17 close on Jun 26, 2026).
AMAT
Applied Materials, Inc.
Key Points
- Wells Fargo reiterated its buy rating on Applied Materials, raising the price target to $740.00 from the previous $699.39.
- Wells Fargo's $740 price target implies 5.81% upside from Applied Materials, Inc.'s ($AMAT) current $699.39 share price.
- The stock currently trades at $699.39, close to its 52-week high of $739.67, indicating strong investor interest.
- Analysts show a consensus rating of strong buy, with a mean price target of $640.89 from 35 opinions.
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Wells Fargo Raises Target for Applied Materials
Wells Fargo has reiterated its buy rating on Applied Materials, Inc. (AMAT) with a new price target of $740.00, up from the previous target of $699.39. This update came on June 26, 2026, reflecting the firm's strong confidence in the semiconductor equipment sector. The stock was trading at $699.39 on that day, which is very close to its 52-week high of $739.67.
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Analysts Set New Price Targets
Wells Fargo's updated target shows a significant change in outlook for Applied Materials. The increase from $699.39 to $740.00 suggests a positive sentiment towards the company's future performance in the semiconductor industry. The firm believes that Applied Materials is well-positioned to capitalize on growth opportunities in this sector.
Other Analyst Views
Several other analysts have also provided insights on Applied Materials. Needham maintained a buy rating with a target of $580.00 on October 16, 2026, while Evercore ISI Group kept an outperform rating with a target of $590.00 on October 15, 2026. RBC Capital reiterated its outperform rating with a target of $600.00 on October 14, 2026. UBS has been bullish as well, maintaining a buy rating with a target of $695.00 on September 1, 2026. The consensus among analysts remains strong, with a mean price target of $640.89 based on 35 opinions.
Stock Performance Context
Applied Materials shares are currently trading at $699.39, which is very close to the company's 52-week high of $739.67. This suggests that the stock is performing well and reflects investor confidence amid a favorable market for semiconductor equipment. The stock's recent movements indicate strong demand and potential growth in the sector.
$AMAT price target
Applied Materials, Inc. daily closes and this analyst's $740 target. Not advice.
What Applied Materials, Inc. Does
Applied Materials, Inc. provides essential engineering solutions, equipment, and services for the semiconductor and related industries. The company operates through segments that focus on semiconductor systems and global services. Its technology is crucial for manufacturers of semiconductor wafers and chips, making it a key player in the tech sector.
What’s Next for Applied Materials
Looking ahead, investors will be paying close attention to the company's upcoming earnings report scheduled for November 12, 2026. As a reminder, Wells Fargo's analysis reflects a view of the company as of June 26, 2026, and may not represent current market conditions. With a strong consensus rating and a bullish target from Wells Fargo, the outlook for Applied Materials appears optimistic as the semiconductor industry evolves.
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Source: Wells Fargo's rating change on $AMAT (Jun 26, 2026). Written by software, not financial advice. How we make alerts