Applied Materials shares rise 5.54% intraday following analyst upgrades and bullish commentary on its AI and semiconductor supply chain role.

Applied Materials (AMAT) surged 5.54% intraday, driven by a cluster of analyst upgrades and positive sentiment surrounding its role in semiconductor and AI supply chains. Key catalysts included B. Riley raising its price target to $305 from $270, Mizuho increasing its target to $245, and broader industry narratives emphasizing AMAT’s critical position in supplying tools for AI-driven chip manufacturing. These upgrades, coupled with features highlighting the company’s structural exposure to AI and semiconductor capacity expansion, reinforced investor confidence. While institutional purchases, such as Optas, LLC’s 17.17% stake increase, added incremental support, the primary momentum stemmed from analyst-driven optimism and thematic long-term positioning. Neutral and negative sentiments, including profit-taking risks and execution concerns, were outweighed by immediate buy-side interest in the upgraded outlook.