"Just this morning, the firm upgraded AMAT to a buy rating with a price target of $285. They pointed to a far more bullish outlook for wafer fab equipment over the next two years. Rising demand for memory means that [analyst Timothy] Arcuri now expects WFE to increase more than 20% year-over-year to $136.5 billion in 2026. This number could approach $145 billion in 2027, a level "well above current Street expectations," he said, as quoted by CNBC."
"TD Cowen says it's even more bullish on Nvidia ( NASDAQ: NVDA) after meeting with the company's management team. "We had the opportunity to meet with Nvidia EVP & CFO Colette Kress on our semiconductor, semi-cap, and networking bus tour. We came away from our meeting incrementally confident in the company's growth prospects for C2026+," said the firm, as quoted by CNBC."
"According to the firm, "While the change in guard at the helm will drive additional scrutiny from long-term investors who are going to desire similar execution, we believe the elevation of a product/hardware focused executive to the top role is likely to be taken as a sign of further emphasis on innovation and focus towards launching new product categories," as quoted by CNBC."
UBS upgraded Applied Materials (AMAT) to buy with a $285 price target, citing a more bullish wafer fab equipment outlook and forecasting WFE growth above 20% year-over-year to $136.5 billion in 2026, potentially nearing $145 billion in 2027 driven by rising memory demand. TD Cowen grew more confident in Nvidia's (NVDA) medium-term growth after meeting CFO Colette Kress, while Bernstein and Bank of America reiterated bullish ratings based on a significant, early data-center opportunity and building AI demand. JPMorgan views Apple (AAPL) as well-positioned after CEO succession reporting, seeing a product-focused CEO as a sign of renewed innovation and focus on new product categories.
Read at 24/7 Wall St.
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