New York, February 27, 2026, 11:39 (EST) — Regular session.
- Applied Materials shares edged lower in morning trading, following the previous day’s steep declines across chip equipment stocks.
- This week, the stock’s been on a wild ride, with investors rethinking their bets on AI-related semiconductor names.
- Watch for management to speak at conferences set for March 2 and March 10, ahead of the annual meeting scheduled for March 12.
Applied Materials (AMAT.O) slipped roughly 0.5% to $373.7 in late morning trading, bouncing earlier between $365.6 and $378.6, Investing.com data showed.
Applied now stands as a high-beta stand-in for wafer-fab equipment, or WFE—the critical, pricey gear chipmakers need to build semiconductors. Investors get jittery over how long AI-fueled demand can last, and equipment names typically react before the rest, sometimes sharply.
Thursday’s drop was clear: Applied fell 4.87%, ending the day at $375.72. That came after it had gained 4.5% Wednesday, closing at $394.95, according to official figures.
Thursday wasn’t kind to chip-equipment stocks. Lam Research slid 4.17% to $239.07, with several other semiconductor names also closing lower, according to MarketWatch data.
Applied shares shot up near their 52-week peak before pulling back just as abruptly. The 12-month high stands at $395.95. After Thursday’s session, the stock closed about 5% shy of that level, according to MarketWatch data.
Wall Street research helped fuel this week’s positive sentiment. Morgan Stanley bumped up its price target on Applied to $432 from $420, maintained an Overweight rating, and called the stock a “Top Pick” among U.S. semiconductor production equipment, according to The Fly. TipRanks
Applied is riding the AI wave in its latest forecasts. Earlier this month, the company called for quarterly results that topped analyst views, with CEO Gary Dickerson telling Reuters that “accelerated” spending on AI-related computing is boosting demand for high-end chips. Reuters
Still, policy risk remains a live issue for investors. Earlier this month, Applied settled a U.S. export-control case, agreeing to pay $252 million over shipments routed to China’s SMIC. The company also said DOJ and SEC investigations tied to the matter have now ended without further action, according to Reuters.
Looking ahead to next week, the schedule starts to come into play. Applied’s Dr. Prabu Raja, who heads up the Semiconductor Products Group, is set to attend the Morgan Stanley Technology, Media & Telecom Conference on March 2, while CFO Brice Hill is lined up for a Cantor Fitzgerald event on March 10.
March 12 is circled on the calendar for shareholders, with Applied’s annual meeting officially scheduled, according to a filing.
Earnings are up next. Applied’s investor relations calendar points to May 14 for the next results.
