Goldman Sachs Reiterates Buy Rating on Applied Materials (AMAT)

Goldman Sachs analyst James Schneider reiterated a Buy rating and $215.00 price target on Applied Materials (NASDAQ: AMAT).

The analyst comments "We expect the stock to pull back following weak guidance which is driven by a near-term drop in China ($500 mn) as capacity is digested, as well as isolated pushouts from select leading-edge logic customers ($500 mn), partly offset by trailing-edge logic strength elsewhere ($400 mn). We believe investor expectations had moderated heading into the call given more cautious peer commentary on 2026; however, the incremental weakness in China is coming earlier than we had forecast in terms of an expected 2026 pullback. We continue to have a muted view of WFE growth in 2026 (up 2% and below the Street), but see spending on individual technology steps - namely etch and deposition - outperforming this tepid growth rate. We remain Buy rated on AMAT as we believe the company is positioned to outperform peers on a relative basis given its high relative exposure to deposition and etch against this muted growth rate in 2026."

For an analyst ratings summary and ratings history on Applied Materials click here. For more ratings news on Applied Materials click here.

Shares of Applied Materials closed at $188.24 yesterday.

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