Applied Materials stock gains 2.60 percent on September 29

Published on 09/29/2026 at 14:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Applied Materials stock carries a Q3 2026 revenue base of USD 9.12 billion, up 24.8 percent year over year. Morgan Stanley cut its target to USD 563.00 on September 28, 2026.

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Applied Materials (ISIN US0382221051) was trading at EUR 437.40 at Lang & Schwarz on September 29, 2026 at 2:31 p.m. CEST, up 2.60 percent versus the prior close of EUR 426.30. The latest analyst action came from Morgan Stanley, which reduced its price target from USD 642.00 to USD 563.00 while keeping an Equal Weight rating.

Target cut reshapes the debate

According to MarketBeat on September 28, 2026, Morgan Stanley lowered the target to USD 563.00 from USD 642.00 and maintained its Equal Weight rating. The revised target stands 28.73 percent above the Lang & Schwarz price when comparing the different currencies only as separate market references, so the figures should not be treated as one venue-based return calculation.

The same report placed the broader consensus at Moderate Buy with an average target of USD 655.72 on September 28, 2026. That gap shows the central tension around Applied Materials: operating growth remains substantial, while valuation expectations differ sharply among analysts.

Q3 revenue rose 24.8 percent

For the quarter ended July 26, 2026, Applied Materials reported USD 9.115 billion in revenue, up 24.8 percent from USD 7.302 billion in the prior-year quarter, according to Seeking Alpha. The report also cited a 50.3 percent gross margin, a 33.7 percent operating margin and USD 2.538 billion in net income for the period.

Finance results show diluted GAAP earnings per share of USD 3.17 for Q3 2026, compared with USD 3.51 in Q2 2026. Revenue moved in the opposite direction, rising from USD 7.910 billion in Q2 to USD 9.115 billion in Q3, which makes the quarter's margin and earnings mix important for the next valuation debate.

Stock gains with a wide valuation gap

Applied Materials had a market capitalization of USD 386.5 billion on September 28, 2026, with a 52-week range of USD 202.87 to USD 739.67. The share price therefore remained below its yearly high while the September 29 euro quotation advanced 2.60 percent against the prior Lang & Schwarz close.

For investors, the combination of 24.8 percent revenue growth and the Morgan Stanley target reduction creates a clear test for the stock. Applied Materials needs continued semiconductor equipment demand to support the growth profile, while the USD 563.00 target shows that at least one major analyst sees less room for valuation expansion.

EUR 437.40 in afternoon trading

Applied Materials stock was trading at EUR 437.40 at Lang & Schwarz on September 29, 2026 at 2:31 p.m. CEST, plus 2.60 percent versus the prior close of EUR 426.30. The primary listing is NASDAQ under ticker AMAT.