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Applied Materials, Inc. (NASDAQ:AMAT) is one of the 10 All-Time High Stocks with Legs to Rally Further.

On June 22, 2026, Wells Fargo raised its price target on Applied Materials, Inc. (NASDAQ:AMAT) to $715 from $520 and maintained an Overweight rating. Wells Fargo expects continued positive semiconductor capital equipment results in Q2.

On June 17, Citi analyst Atif Malik raised the firm's price target on Applied Materials to $710 from $550 and maintained a Buy rating. Citi updated targets across the semiconductor equipment group based on its wafer fab equipment "bull case" and 2028 earnings estimates. Malik also cited a "widening gap" between needed DRAM and available supply as a driver of complementary solutions.

On June 15, Applied Materials introduced new deposition and etch systems for precision processing in deep and narrow 3D structures. Prabu Raja, president of the semiconductor products group, said the "biggest opportunities are increasingly found in materials engineering," as chipmakers seek to extend scaling in logic and memory.

Applied Materials, Inc. (NASDAQ:AMAT) provides materials engineering solutions, equipment, services, and software to the semiconductor and related industries.

While we acknowledge the potential of AMAT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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