On July 31, Applied Materials rose 5.95% in regular trading, trading at $527.905/share, with turnover of $433 million.

On the news front, the semiconductor equipment sector staged a collective strong rebound after enduring multi-day selling pressure from renowned short-seller Michael Burry's disclosed bearish positions on AI and semiconductor stocks, concerns over AI infrastructure spending returns, and China lithography machine competition fears. Peers including Lam Research gained 5.0%, KLA Corporation rose 3.97%, and Teradyne climbed 5.1%, with sector-wide momentum lifting Applied Materials.

Additionally, strong quarterly earnings from Microsoft and Amazon significantly bolstered AI capital expenditure and demand expectations, driving the Philadelphia Semiconductor Index broadly higher. Institutional support remains notable, with HSBC, Citi, and UBS previously raising their target prices for Applied Materials to a range of $683 to $705, while the average analyst target stands at $641.61, implying substantial upside from current levels. The company is scheduled to report third fiscal quarter results on August 13, with consensus EPS expectations of $3.36.

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