Evercore cuts target for Applied Materials stock from USD 700 to USD 590

Published on 10/16/2026 at 09:11 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Applied Materials stock costs EUR 383.18 on October 16, 2026, 0.49 percent above the Xetra close. Q3 revenue reached USD 9.12 billion.

Analyst reset and upcoming dates

Evercore ISI Group lowered its Applied Materials target to USD 590 on October 14, 2026.
Third-quarter revenue reached USD 9.12 billion, up 24.80 percent year over year.
Applied Materials stock trades at EUR 383.18 at 9:08 a.m. CEST at Lang & Schwarz on October 16, 2026, 0.49 percent above the Xetra close of October 15, 2026.
The next dividend payment is scheduled for December 10, 2026, at USD 0.53 per share.

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Applied Materials (US0382221051) saw Evercore ISI Group cut its price target from USD 700 to USD 590 on October 14, 2026, while retaining an Outperform rating, according to GuruFocus. The stock was trading at EUR 383.18 at Lang & Schwarz on October 16, 2026 at 9:08 a.m. CEST, 0.49 percent above the Xetra close of October 15, 2026 at EUR 381.30.

Target reset tests valuation

The reduction equals 15.71 percent from the former target and gives the analyst action immediate weight in the current setup. The target change came shortly after Applied Materials presented its EPIC Center, a semiconductor research facility backed by a planned investment of USD 5.00 billion, according to the company's investor-relations page at Applied Materials.

What does the target cut mean?

The counterweight is the company's operating performance. In the third quarter of fiscal 2026, revenue was USD 9.12 billion, up 24.80 percent from the prior-year quarter, while adjusted earnings per share reached USD 3.50 versus a USD 3.40 consensus estimate, as MarketBeat reported. That comparison leaves investors weighing strong recent demand against a lower valuation ceiling from Evercore.

Three dated company events

On August 13, 2026, Applied Materials reported USD 9.12 billion in quarterly revenue and adjusted earnings per share of USD 3.50, according to MarketBeat. On October 12, 2026, the company unveiled its USD 5.00 billion EPIC Center, according to Applied Materials. On October 14, 2026, Evercore ISI Group lowered its target from USD 700 to USD 590, according to GuruFocus.

Upcoming dividend dates

The next dated cash event is a USD 0.53 quarterly dividend scheduled for December 10, 2026. The record and ex-dividend date is November 19, 2026, according to MarketBeat.

Stock holds above Xetra close

Applied Materials stock was trading at EUR 383.18 at Lang & Schwarz on October 16, 2026 at 9:08 a.m. CEST, 0.49 percent above the Xetra close of October 15, 2026 at EUR 381.30. The current euro quote places the market response below the threshold for a directional headline, while the target revision and the third-quarter comparison provide the stronger investor context. The further course of trading is shown by the continuously updated real-time quote of Applied Materials stock.