On July 17, Applied Materials fell 3.1% overnight, trading at 543.01 USD/share, with turnover of $13.27 million. The stock continued a multi-day sector-wide pullback, with short-term profit-taking pressure remaining dominant.

On the news front, the broader semiconductor sector experienced a sharp sell-off, with the VanEck Semiconductor ETF (SMH) declining 3.70%. Applied Materials had previously surged nearly 9% on July 9 after multiple investment banks — including Goldman Sachs, Morgan Stanley, Mizuho, and Stifel — raised target prices to the $630–$650 range, while CEO Gary Dickerson signaled strong long-term visibility into chip equipment demand extending beyond 2027. Despite Citi and UBS subsequently raising their target prices to $705, the stock has been unable to sustain upward momentum as profit-taking following the sharp rally persists.

Within the Semiconductor Equipment sector, peers declined broadly: ASML Holding down 2.33%, Lam Research down 2.88%, KLA-Tencor down 2.41%, Teradyne down 2.89%, and AXT Inc down 3.93%.

(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.)