On July 30, Applied Materials rose 10.27% in regular trading, trading at $489.48/share, with turnover of $590 million. The stock surged as the semiconductor equipment sector staged a powerful collective rebound following days of intense selling pressure.

The rebound came after the sector endured a triple headwind: sustained short-selling pressure from famed investor Michael Burry, who publicly disclosed short positions targeting Applied Materials and the broader AI chip space with a projected 30% downside; mounting skepticism over whether massive AI infrastructure spending can generate adequate returns; and competitive concerns surrounding Chinese lithography equipment advances. Peers rallied sharply in tandem, with Lam Research surging 19.79%, AXT up 18.49%, Teradyne up 9.92%, KLA up 7.56%, and ASML up 5.82%.

Notably, HSBC, Citi, and UBS had previously raised their target prices for Applied Materials to a range of $683 to $705, with the consensus analyst target at $641.61 — representing substantial upside from current levels and providing valuation support. Additionally, the company is scheduled to report fiscal third-quarter results on August 13, with market consensus expecting EPS of $3.36, forming a 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.)