Applied Materials Gains 4.8% After Goldman Raises Target to $645
AMAT•Goldman Sachs increased Applied Materials’ price target to $645, sparking a 4.8% pre-market rally. The shares hit a record high of $739.67 on June 30, trade up 135% year-to-date, hold $600 support, and carry a volatility scorecard reading of 92.
1. Goldman Sachs Lifts Price Target to $645
Goldman Sachs raised its price target for Applied Materials to $645, driving a 4.8% pre-market rally and reflecting optimism on semiconductor equipment spending.
2. Share Price Rally and Record Highs
Applied Materials hit an all-time high of $739.67 on June 30 and boasts a 135% gain year-to-date, underscoring robust demand in chipmaking tools.
3. Technical Support and Volatility
The stock has held support at $600 after a brief pullback, and its 92 volatility scorecard suggests volatility remains elevated relative to options pricing.
