On July 13, Applied Materials fell 4.4% in pre-market trading, trading at $576.47/share, with turnover of $6.4514 million.

The decline follows a broad pullback across the semiconductor equipment sector as profit-taking pressure mounted after the stock surged nearly 9% in a single session earlier this week. That rally was driven by concentrated target price upgrades from Goldman Sachs, Morgan Stanley, Mizuho, and Stifel — with consensus target prices rising to approximately $632.64 — alongside CEO Gary Dickerson's remarks indicating strong long-term visibility into chip equipment demand extending through 2030.

However, market concerns over the sustainability of AI chip demand and the lingering impact of noted short seller Michael Burry's bearish bets on semiconductor names have continued to weigh on sentiment. Morgan Stanley projects the wafer fab equipment market reaching $200 billion in 2027 and approximately $250 billion by 2028, providing long-term fundamental support, but near-term the sector remains in a repeated pullback pattern following its rapid advance.

Within the Semiconductor Equipment sector, Lam Research fell 4.31%, KLA-Tencor fell 4.11%, Teradyne fell 4.08%, AXT Inc fell 4.65%, and ASML fell 1.83%.

(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.)