{
  "id": 10712737,
  "title": "Why is Applied Materials stock rallying today?",
  "url": "https://urgent.news/2026/09/29/why-is-applied-materials-stock-rallying-today",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-29T14:49:55.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/stock-market-news/why-is-applied-materials-stock-rallying-today-93CH-4923054"
  },
  "original_language": "en",
  "account": "Applied Materials' stock saw a 3.8% increase in early trading as investors responded positively to a Morgan Stanley analyst note. The note lowered the price target to $563, but it also increased 2027 revenue and earnings per share forecasts, indicating the bank's long-term confidence in the company's earnings potential, even if the valuation multiple has been reduced. Morgan Stanley cut its valuation multiple from 26x to 22x due to concerns that near-term positives are already priced into the share. However, the upward revision to 2027 estimates provided investors with a reason to buy into the dip. The stock's distance from its 52-week high of $739.67 may have also attracted buyers who see the current price as an opportunity. Applied Materials reported record fiscal third-quarter performance, with revenue of $9.12 billion, up about 25% year-over-year, and a record non-GAAP EPS of $3.50, up 41%. Management announced fourth-quarter guidance of about $10.25 billion in revenue and raised its full-year Semiconductor Systems growth outlook to over 30%. The NASDAQ rose slightly (+0.2%) on Monday, which provided a minor tailwind for technology stocks. The S&P 500 and Dow Jones were essentially flat, making today's move in Applied Materials primarily stock-specific. Investors were driven by a mixed-but-ultimately-constructive analyst note, record quarterly results, and a supportive AI-driven sector narrative, even though the stock remains below its yearly peak.",
  "summary": null,
  "key_points": [
    "Morgan Stanley raised 2027 revenue and EPS forecasts for Applied Materials",
    "Stock's price target cut from $750 to $563, but analysts remain bullish",
    "Company reported record Q3 revenue and EPS, boosting investor confidence"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Vulcan Materials stock hits 52-week low at 240.67 USD",
        "url": "https://urgent.news/2026/09/29/vulcan-materials-stock-hits-52-week-low-at-240-67-usd",
        "published": "2026-09-29T15:30:44.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}