On June 17, Applied Materials rose 5.15% in regular trading, trading at $615.36/share, with turnover of $405 million.

On the news front, EssilorLuxottica, the world's largest eyewear manufacturer, announced a long-term agreement with Applied Materials to co-develop augmented reality display technology and AI glasses, with R&D focusing on advanced optical technologies aimed at scaling AI glasses commercialization. EssilorLuxottica has already established a leading position in the AI glasses market through its collaboration with Meta on Ray-Ban smart glasses.

Simultaneously, Citi significantly raised its target price from $550 to $710, citing surging high-bandwidth memory demand driven by autonomous AI and projecting the chip equipment market to reach approximately $250 billion by 2028. Cantor Fitzgerald and Barclays previously raised targets to $650 and $590, respectively. The company also launched two new 3D chip scaling systems and commenced operations at a $500 million Singapore facility, reinforcing its growth positioning in the AI-driven semiconductor capital expenditure cycle.

Within the Semiconductor Equipment sector, peers also rallied broadly: ASML up 5.91%, Lam Research up 6.75%, KLA-Tencor up 4.55%, and Amkor Technology up 8.35%.

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