Applied Materials (AMAT) shares clock seven straight sessions of gains, as the stock was up 3.3% at $263.06 on Tuesday.
The semiconductor materials and equipment company gained 13.7% in the preceding six sessions. The stock has surged nearly 59% so far this year, compared to a 16% rise in the broader S&P 500 Index.
AMAT is up 12% over the past one month.
Applied Materials holds a superior valuation over its peers in the semiconductor equipment manufacturing space, and it is entering a multi-year demand cycle due to the rise of artificial intelligence uses and devices, according to KeyBanc.
UBS upgraded the semiconductor equipment firm to Buy, citing the recent strength in the memory business.
Looking at Seeking Alpha’s Quant Rating, AMAT has a Hold rating with a score of 3.2 out of 5. The company received A+ in the prospect of profitability, while it received D- in growth.
Turning to the Wall Street community, 23 analysts gave AMAT a Buy and above rating. 14 analysts have given the stock a Hold recommendation, while one recommended Strong Sell.
Seeking Alpha analysts are also cautious and see the stock as a Hold.
Fourth quarter results and outlook surpassed market expectations as the company prepares to meet stronger demand during the second half of 2026.