Applied Materials (AMAT) Stock Hits New High, Up 72% Over Six Months on AI Demand

Applied Materials Inc. (AMAT) shares reached a new high on January 24, 2026, having risen approximately 72.4% over the past six months, driven by robust demand for its semiconductor manufacturing equipment from AI-related investments. The company reported its sixth consecutive year of growth in fiscal 2025. Analysts project earnings growth of 1.2% for fiscal 2026 and roughly 20% for fiscal 2027, though the stock's forward P/E of 33.3 is considered elevated. Wall Street maintains a "Moderate Buy" consensus rating on the stock.