Article

Applied Materials shares surged 8.2% following TSMC's announcement of increased capital spending and optimistic revenue forecasts for 2026. Analysts from Stifel and RBC Capital subsequently raised their price targets for the stock to $340 and $385, respectively, as Applied Materials reached a new 52-week high of $326.53 and is up 21.4% year-to-date, despite broader market trends showing a decline in tech stocks.