On July 31, Applied Materials rose 3.04% in after-hours trading, trading at $514.89/share, with turnover of $276 million.

On the news front, the semiconductor equipment sector extended its collective strong rebound after enduring consecutive days of pressure from renowned short seller Michael Burry's disclosed bearish position on the stock, concerns over AI infrastructure spending returns, and fears surrounding Chinese lithography competition. The Philadelphia Semiconductor Index surged over 7% during the regular session, with peers Lam Research gaining over 20% and Applied Materials previously rallying over 13% intraday.

Additionally, HSBC, Citi, and UBS previously raised their target prices on Applied Materials to a range of $683 to $705, with the analyst consensus target at $641.61. The significant discount between the current share price and institutional targets continues to provide a supportive floor. The company is scheduled to report its fiscal third-quarter earnings on August 13, with market consensus expecting EPS of $3.36, which serves as an additional near-term catalyst.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)