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Source document· May 19, 2026

Morgan Stanley resets Applied Materials stock price forecast

View original at finance.yahoo.com
Morgan Stanley resets Applied Materials stock price forecast Applied Materials has become one of Wall Street’s clearest ways to play the AI infrastructure buildout without buying the chip designers that dominate the headlines…
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  • Applied Materials is one of Wall Street's clearest ways to play the AI infrastructure buildout without buying chip designers.

    60% confidence

  • Morgan Stanley raised its full-year systems growth forecast for Applied Materials from 28.6% to 34.2%, and models the company outgrowing 2026 wafer fab equipment growth by more than 10 percentage points.

    60% confidence

  • Applied Materials delivered another strong beat-and-raise, with upside across several parts of the business.

    60% confidence

  • Applied Materials now expects its semiconductor equipment business to grow more than 30% in calendar 2026, supported by rapid global AI infrastructure buildout and the company's positions in leading-edge logic, DRAM, and advanced packaging.

    60% confidence

  • The stock narrative has shifted from whether Applied Materials can outperform 2026 wafer fab equipment growth to how much it can outperform.

    60% confidence

  • The rapid global build-out of AI computing infrastructure, combined with Applied Materials' positions in leading-edge logic, DRAM, and advanced packaging, supports sustained revenue and profit growth.

    60% confidence

  • Applied Materials price target raised to $502; Overweight rating reiterated; stock maintained as Top Pick in semiconductor capital equipment.

    60% confidence

Data points we hold from this source

Applied Materials, Inc. · stock price440.56 USD
Applied Materials, Inc. · margin50.0 percent
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What we're seeing
Frontier AI Slowdown Call Splits Industry, Rattles Capex-Sensitive Markets
Anthropic's Dario Amodei publicly called for a coordinated global slowdown in frontier AI development, a stance Microsoft echoed with a 'humanist' AI code of conduct, but Nvidia and Meta's CEOs rejected any coordinated pause days later, exposing a widening rift between safety-focused and growth-focused AI leaders. The dispute landed amid growing financial scrutiny of AI infrastructure spending — a hyperscaler capex analysis, FTC warnings against antitrust waivers for AI firms, and an 8.6% single-day stock drop in GE Vernova tied directly to the slowdown remarks — signaling investors are newly nervous about whether the AI capex boom (including Alphabet's projected $701B revenue narrative) can be justified if the pace of development itself becomes contested.
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Satellite-Terrestrial Network Integration Acceleration
Increased investment and launches in hybrid satellite-cellular networks across telecom industry; competitive responses from other carriers; regulatory activity around satellite spectrum; expansion of emergency/rural connectivity use cases
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Where sources disagree
ING Group
Both facts record the same metric (shares_outstanding) for ING Group at the identical observation date (2025-12-31). FACT A states 2,902,437,688 shares; FACT B states 2,902 million shares (2,902,000,000). The difference is 437,688 shares (~0.015%). This is a genuine value conflict, though the discrepancy appears to result from FACT B rounding to the nearest million while FACT A provides the precise count.
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Morgan Stanley resets Applied Materials stock price forecast — Source | Via News | Via News