On July 30, Applied Materials rose 3.08% overnight, trading at $445.7/share, with turnover of $91,200. The rebound follows multiple consecutive sessions of heavy selling triggered by a triple headwind of short-selling pressure, AI capital expenditure concerns, and China lithography competition fears.

On the news front, the semiconductor equipment sector staged a collective rebound after the Philadelphia Semiconductor Index had fallen over 20% from its June all-time high. Peer Lam Research surged 6.87%, KLA rose 0.83%, and Teradyne gained 1.42%, with broad sector momentum lifting Applied Materials off recent lows. Notably, renowned short-seller Michael Burry had publicly disclosed short positions in the stock and projected approximately 30% downside for AI-related chip stocks, a narrative that had dominated recent sessions.

Supporting the recovery, HSBC, Citi, and UBS recently raised their price targets on Applied Materials to a range of $683 to $705, while the FactSet consensus target stands at $641.61 — representing substantial upside from current levels. The company is scheduled to report fiscal third-quarter results on August 13, with consensus EPS expectations of $3.36.

(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.)