US Stocks Movement: Applied Materials surged on September 29 due to AI demand, capacity expansion, and semiconductor equipment

Applied Materials September 29: Interpreting the Surge

Keywords: AI demand, capacity expansion, semiconductor equipment

1. On September 29, data showed that the company’s fiscal year 2026 third-quarter revenue reached a record high of $9.1 billion, up 25% year-on-year; in recent years, the company nearly doubled its manufacturing space, and this quarter launched a manufacturing center in Singapore. Management stated that system quarterly output could double by 2028.

2. On September 24, institutions raised their forecast for wafer manufacturing equipment spending in 2026 to $156 billion and expect it to reach $210 billion in 2027, believing AI infrastructure construction will drive increased demand for memory chips and data center components; Applied Materials mainly engages in semiconductor equipment, services, and software, covering segments such as front-end manufacturing.

3. On September 28, institutions’ statistics showed the average price target for Applied Materials was $651, 34.2% higher than the closing price of $485; data also indicates that earnings expectations revisions trended positively.

(Disclaimer: This content is summarized from publicly available information using AI technology, for reference only and does not constitute investment advice.)