Applied Materials (AMAT) hits fresh records on sustained fab-equipment demand from AI chip expansion.

Applied Materials shares are trading at fresh all-time highs on NASDAQ, driven by accelerating AI-related semiconductor equipment spending and a wave of bullish analyst updates. Market data from Fidelity shows shares changing hands around 669 US dollars in late Thursday trade, up more than 13 percent on the day. According to Investing.com, the stock hit an intraday high of approximately 641.42 US dollars and recently traded around 642.24 US dollars, implying a market capitalization of roughly 508 billion US dollars.

Analyst enthusiasm for the company continues to build. Citi analyst Atif Malik lifted his price target from 550 to 710 US dollars while reiterating a Buy rating, citing accelerating AI spending and growing demand for memory and advanced packaging tools. Cantor Fitzgerald has also increased its target to 650 US dollars and maintained an Overweight stance. According to InvestingPro data, 26 analysts have raised their earnings forecasts, though some valuation metrics suggest the stock trades above certain fair-value estimates. Over the past year, shares have posted gains of approximately 265 percent, with the 52-week range running from about 201.16 to 507.82 US dollars—a stark illustration of the recent AI-related re-rating.

Applied Materials has recently introduced six new chip-manufacturing systems aimed at DRAM and advanced packaging steps that are critical for high-bandwidth memory and 3D chip architectures used in AI applications. An improved Centura Prime Epi system is highlighted as providing roughly a 20 percent smaller footprint, tailored to dense 3D structures. The company is also rolling out SENZ, a visual platform for augmented-reality smart glasses designed to support manufacturing workflows by overlaying process information for technicians on the factory floor. These launches complement an already broad portfolio of deposition, etch, inspection and metrology tools deployed at major chipmakers such as Micron.

Applied Materials shares trade on NASDAQ under the ticker AMAT.