Applied Materials Stock Rises 8.2% After TSMC Increases Capital Spending Plans
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.
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Applied Materials shares increased 8.2% after TSMC announced higher capital spending and revenue growth forecasts for 2026. Analysts from Stifel and RBC Capital raised their price targets to $340 and $385, respectively.
The stock has shown volatility with 18 moves over 5% in the past year. Applied Materials is up 21.4% year-to-date and reached a new 52-week high at $326.53. In contrast, recent market trends saw tech stocks decline as investors shifted to defense stocks following a proposed $1.5 trillion defense budget for 2027.
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