Applied Materials stock gains 2.03 percent on AI packaging deal

Published on 10/04/2026 at 13:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Applied Materials stock closed at USD 540.04 on October 2, 2026, after a 2.03 percent gain. Fiscal Q3 revenue rose 25 percent to USD 9.115 billion, while analysts set a USD 629.38 average target.

Pop-Art-Comic-Szene mit Ingenieurin im Bunny-Suit und Silizium-Wafer — Applied Materials Inc. (US0382221051) präsentiert farbenfrohe Pop-Art-Comic-Szene mit Ingenieurin im Bunny-Suit und leuchtendem Silizium-Wafer, Illustration mit AI erstellt.

Applied Materials stock (ISIN US0382221051) gained 2.03 percent to USD 540.04 on Nasdaq on October 2, 2026, as an expanded AI packaging partnership added a fresh growth angle. MarketBeat reported that BE Semiconductor Industries joined Applied Materials' EPIC Center as an innovation partner.

AI packaging expands the growth case

The collaboration targets 3D integrated-circuit scaling, hybrid bonding, photonics and advanced memory integration, according to MarketBeat. The timing matters because Applied Materials delivered fiscal Q3 2026 revenue of USD 9.115 billion, up 25 percent year over year, while non-GAAP earnings per share rose 41 percent to USD 3.50, as the company's earnings transcript shows.

Yahoo Finance also carries management's fiscal Q4 2026 outlook for revenue of USD 10.25 billion plus or minus USD 500 million and non-GAAP EPS of USD 4.02 plus or minus USD 0.20. The revenue midpoint stands 12.4 percent above fiscal Q3 revenue, creating a demanding execution test for the next report.

Consensus target stays above the quote

MarketBeat reports a Moderate Buy consensus from 39 brokerages, including 30 Buy ratings, eight Holds and one Strong Buy. The average 12-month target is USD 629.38, which is 16.5 percent above the USD 540.04 reference price.

Analyst views are not uniform. TheStreet reported on September 28, 2026, that Morgan Stanley cut its target from USD 642.00 to USD 563.00 while retaining an Equal-weight rating. That target is 4.2 percent above the October 2 price, showing how valuation expectations vary even as AI demand supports the operating outlook.

Stock remains below the yearly high

Applied Materials stock had a 52-week range of USD 203.40 to USD 739.67 on October 2, 2026, and its market capitalization was USD 428.8 billion. The closing price was USD 540.04, with 5,699,753 shares traded during the session.