BofA raises Applied Materials price target to $720, maintains Buy rating

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Bank of America raised its price target on Applied Materials to $720 from $540 while maintaining a Buy rating. The firm also lifted its 2030 total semiconductor market forecast to $2.7 trillion from $2.3 trillion, citing growth in memory and data center markets along with recovering automotive and industrial demand. Separately, Reuters reported that Applied Materials and EssilorLuxottica signed a long-term agreement to develop augmented reality display technology and artificial intelligence glasses, with plans to scale marketing of AI glasses and focus research on advanced optical technologies.

Impact on stocks 3

Semiconductors▲ · 1 stocks
Applied Materials Inc
AMAT
▲ PositiveCapitalDemandrelevance

BofA raised price target to $720 and lifted semiconductor market forecast.

Spatial Computing / AR/VR▲ · 1 stocks
EssilorLuxottica S. A.
EL
▲ PositiveTechnologyrelevance

Signed long-term agreement with Applied Materials to develop AR display and AI glasses.

Financials▲ · 1 stocks

Theme Impact 5

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