Applied Materials stock: Needham cuts target to USD 580 for Applied Materials stock

Published on 10/23/2026 at 15:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Results are due November 12, 2026. Applied Materials stock costs EUR 336.63 on October 23, 2026, down 1.25 percent versus the Xetra close.

Needham target and earnings date

Needham lowered its Applied Materials target from USD 740.00 to USD 580.00 on October 16, 2026.
Fiscal third-quarter revenue reached USD 9.10 billion, up 25.00 percent year over year.
Applied Materials stock costs EUR 336.63 at Lang & Schwarz on October 23, 2026 at 3:36 p.m. CEST, 1.25 percent below the Xetra close of October 22, 2026.
Applied Materials will report fiscal fourth-quarter and fiscal-year 2026 results on November 12, 2026.

Aquarellmalerei eines Technologie-Campus mit Palmen in Kalifornien — Applied Materials Inc. (US0382221051) illustriert Aquarell-Ansicht eines kalifornischen Technologie-Campus mit Palmen und Bürogebäuden, Illustration mit AI erstellt.

Applied Materials (ISIN US0382221051) faces a lower analyst target after Needham cut its price objective from USD 740.00 to USD 580.00 on October 16, 2026, while keeping a Buy rating, as MarketBeat reported. Applied Materials stock was trading at EUR 336.63 at Lang & Schwarz on October 23, 2026 at 3:36 p.m. CEST, down EUR 4.27, or 1.25 percent, versus the Xetra close of October 22, 2026 at EUR 340.90.

Target cut meets strong results

The lower target contrasts with the companys latest operating figures. In fiscal third-quarter 2026, revenue reached USD 9.10 billion, up 25.00 percent year over year, while non-GAAP gross margin rose to 50.40 percent. The figures were presented in the fiscal third-quarter earnings call transcript published on August 13, 2026, by Yahoo Finance.

Stock sits below its yearly high

Applied Materials traded 1.25 percent below the Xetra close in the afternoon session. Its Nasdaq quote was USD 377.12 at 9:48 a.m. ET on October 23, 2026, with a market capitalization of USD 299.3 billion, a price-to-earnings ratio of 32.67 and a 52-week range of USD 203.40 to USD 739.67.

Valuation and reporting date

The USD 580.00 target stands 53.80 percent above the USD 377.12 Nasdaq quote. The next scheduled corporate event is fiscal fourth-quarter and fiscal-year 2026 reporting on November 12, 2026, announced by Applied Materials on October 22, 2026.

Comparison with peers

Applied Materials: down 1.25 percent, P/E 32.67, market capitalization USD 299.3 billion.
Lam Research (Nasdaq, USD): down 1.22 percent, P/E 34.03, market capitalization USD 284.5 billion.
KLA Corporation (Nasdaq, USD): up 0.11 percent, P/E 40.50, market capitalization USD 193.1 billion.

Price and dates set the frame

The target reduction leaves a wide gap between the latest Nasdaq quote and Needham's revised objective, while the company enters its next reporting cycle with fiscal third-quarter revenue up 25.00 percent year over year. The price movement remains the immediate market measure for German investors.

Applied Materials stock was trading at EUR 336.63 at Lang & Schwarz on October 23, 2026 at 3:36 p.m. CEST, 1.25 percent below the Xetra close of October 22, 2026 at EUR 340.90. The further course of trading is shown by the continuously updated real-time quote of Applied Materials stock.