On July 14, Applied Materials rose 3.06% overnight, trading at $594.42/share, with turnover of $11.43 million. The stock is staging a broad recovery alongside sector peers following the previous session's 3.82% decline driven by profit-taking pressure and the lingering impact of noted short-seller Michael Burry's bearish positioning across the AI supply chain.

The rebound comes after the stock had surged nearly 9% on July 9 following a wave of target price upgrades from Goldman Sachs, Morgan Stanley, Mizuho, and Stifel — all raising targets to approximately $650 — alongside CEO Gary Dickerson's remarks on strong long-term visibility into semiconductor equipment demand extending beyond 2027. The subsequent pullback was largely attributed to valuation recalibration and Burry's high-profile short across memory chips, semiconductor equipment, and AI GPUs.

Within the Semiconductor Equipment sector, peers recovered in tandem: Lam Research up 3.06%, KLA up 2.57%, Teradyne up 2.4%, AXT Inc up 1.8%, and ASML up 1.41%.

(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.)