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Applied Materials Benefiting From GenAI Spending and Demand, RBC Capital Markets Says

MT Newswires Live
Feb 14

Applied Materials (AMAT) holds a strong position in high-bandwidth memory, dynamic random-access memory, and advanced packaging segments as it benefits from solid generative artificial intelligence spending and demand, RBC Capital Markets said in a Thursday research report.

RBC said it expects DRAM spending to increase further in the coming quarters due to new greenfield projects in 2027.

The brokerage said market share loss concerns in China are overdone, and expects double-digit topline momentum to sustain into 2027 despite a slump in mature node demand.

RBC raised its fiscal 2026 EPS forecast to $10.99 from $9.51 and 2027 EPS estimate to $13.58 from $11.56, according to the note.

The brokerage said it reiterated its outperform rating on the stock and raised its price target to $430 per share from $385.

Price: 359.68, Change: +31.29, Percent Change: +9.53

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