Key Highlights

● Applied Materials shares fell 4.82% to close at $409.29 on October 16.

● The consensus 12-month price target is $627.83, implying about 53.4% upside.

● Analysts are split 33 Buy, 7 Hold, and 0 Sell on the stock.

● Targets range from $358 to $900 across 40 analysts.

Applied Materials, Inc. (NASDAQ:AMAT) closed at $409.29 on Friday October 16, 2026. The consensus analyst price target is $627.83, which implies upside of about 53.4% from that close. Applied Materials is a constituent of the S&P 500. The shares fell 4.82% on Friday amid a chip-equipment sell-off, and the stock fell about 7% during its SEMICON West investor event, according to news summaries.

What Is the Latest Analyst Price Target?

According to market data, 40 analysts cover the stock. The mean target is $627.83, the median is $607.50, the highest is $900.00 and the lowest is $358.00. The consensus rating is Strong Buy. The analyst data is dated October 16, 2026, and the price is the 16 October close, so the two may not be perfectly aligned.

What Are Analysts Saying?

The rating split is 33 Buy (29 Strong Buy, 4 Buy), 7 Hold, 0 Sell. Recent actions include Needham cutting its target from $740 to $560 (16 October), Goldman Sachs at $670, RBC at $600 and Bank of America at $650 (all 14 October), and Evercore ISI cutting from $700 to $590 around 14 October, all with positive ratings.

What Could Help the Stock Reach the Price Target?

Management told investors it expects revenue to roughly double over the next few years and presented 2030 profitability targets, and Applied unveiled a $5 billion EPIC centre in Silicon Valley. Trailing twelve-month revenue is $30.84 billion with net income of $9.27 billion. If the consensus proves accurate, the upside is substantial.

What Could Prevent the Stock Reaching the Target?

The mean target is far above the price and the range is very wide ($358 to $900), so the consensus may be skewed by optimistic outliers. Some brokers are cutting targets, and capital-equipment demand is cyclical and sensitive to AI-spending sentiment.

What Should Investors Watch Next?

The next earnings report is scheduled for November 12, 2026. Investors may wish to follow guidance, China restrictions and further target revisions.

The Upside Case Runs Hot

The consensus target suggests upside of about 53.4% from the latest close, but it is a forecast, and the stock could fall short of it.