On July 28, Applied Materials declined 3.09% overnight, trading at $501.21/share, with turnover of $3.8261 million.

On the news front, famed investor Michael Burry, known as The Big Short, has publicly disclosed short positions against Applied Materials and continued to increase bearish bets on the AI and semiconductor sectors. Burry projects that AI-related chip stocks, including Applied Materials, could face an overall correction of approximately 30%. Since his initial public disclosure, the semiconductor sector has experienced a notable pullback, with Applied Materials shares under sustained pressure.

Notably, multiple institutions had recently raised their price targets on the stock. HSBC lifted its target to $683, while Citi and UBS both raised theirs to $705. The FactSet consensus analyst target stands at $641.61. However, near-term bearish sentiment driven by Burry's high-profile short campaign has continued to suppress the stock price. Within the Semiconductor Equipment sector, peers also declined, with ASML down 2.42%, Lam Research down 3.38%, KLA-Tencor down 2.85%, Teradyne down 2.92%, and Amkor Technology down 9.06%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)