Applied Materials stock: Needham cuts target to USD 580.00 for Applied Materials stock

Published on 10/19/2026 at 15:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q3 revenue reached USD 9.12 billion on August 13, 2026. Applied Materials stock costs EUR 379.45 on October 19, 2026, up 2.13 percent versus Xetra close.

Target and earnings date

Needham lowered its Applied Materials target from USD 740.00 to USD 580.00 on October 16, 2026.
Fiscal third-quarter revenue reached USD 9.12 billion on August 13, 2026.
Applied Materials stock costs EUR 379.45 at 3:04 p.m. CEST at Lang & Schwarz on October 19, 2026, 2.13 percent above the Xetra close of October 16, 2026.
MarketBeat estimates the next results date as November 12, 2026.

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Needham & Company lowered its Applied Materials target from USD 740.00 to USD 580.00 in a report dated October 16, 2026, while maintaining a Buy rating, according to MarketBeat. The new target was 41.72 percent above the USD 409.29 Nasdaq price cited for October 16. Applied Materials stock was trading at EUR 379.45 at Lang & Schwarz on October 19, 2026 at 3:04 p.m. CEST, up 2.13 percent versus the Xetra close of October 16, 2026 at EUR 371.55.

Revenue sets the operating backdrop

Applied Materials reported record fiscal third-quarter revenue of USD 9.12 billion for the period ended July 26, 2026, up 25.00 percent from USD 7.30 billion a year earlier. The company posted GAAP net income of USD 2.54 billion, or USD 3.17 in diluted earnings per share, while gross margin reached 50.30 percent and operating margin was 34.00 percent.

The figures come from the company's results release dated August 13, 2026, published by Applied Materials. Management also raised its Semiconductor Systems revenue expectations for calendar year 2026, giving the earnings backdrop a stronger operating dimension than the share-price move alone.

Stock position after the decline

On Nasdaq, the stock last stood at USD 409.29 on October 16, 2026 at 4:00 p.m. ET, down 4.82 percent from USD 430.01. The same session produced a 52-week range of USD 203.40 to USD 739.67, leaving the Nasdaq price 44.65 percent below the high and 101.22 percent above the low.

The euro quotation is therefore being measured against a lower Xetra base than the US close. The current Lang & Schwarz price is 2.13 percent above the Xetra close, a move that places the German quotation in positive territory even as the latest completed Nasdaq session ended lower.

Valuation and the next date

Applied Materials had a market capitalization of USD 324.8 billion and a trailing P/E ratio of 35.28 as of October 16, 2026. Lam Research stood at USD 330.3 billion with a P/E of 45.82, while KLA had a market capitalization of USD 216.3 billion and a P/E of 45.22 on the same date.

MarketBeat estimates that Applied Materials will report fiscal fourth-quarter 2026 results on November 12, 2026. The page also lists consensus revenue of USD 10.30 billion and earnings per share of USD 4.06 for that period.

Comparison with peers

Applied Materials: plus 2.13 percent, P/E 35.28, market capitalization USD 324.8 billion
Lam Research (Nasdaq, USD): minus 4.87 percent, P/E 45.82, market capitalization USD 330.3 billion
KLA (Nasdaq, USD): minus 5.00 percent, P/E 45.22, market capitalization USD 216.3 billion

Euro quote and trading position

The latest euro quote puts Applied Materials at EUR 379.45 at Lang & Schwarz on October 19, 2026 at 3:04 p.m. CEST, 2.13 percent above the Xetra close of October 16, 2026 at EUR 371.55. The next earnings date is November 12, 2026, while the analyst target of USD 580.00 remains the clearest dated valuation reference in the recent coverage.

The further course of trading is shown by the continuously updated real-time quote of Applied Materials stock.