TD Cowen Raises Applied Materials (AMAT) PT to $315, Maintains Buy Rating Citing Intersection of Strong DRAM, Leading-Edge Foundry Market Uptrends

Core Insights - Applied Materials Inc. is recognized as a highly profitable tech stock, with a price target raised to $315 from $260 by TD Cowen, maintaining a Buy rating due to favorable market conditions in the DRAM sector and leading-edge Foundry [1][3] Financial Performance - For the full year 2025, Applied Materials reported a revenue of $28.4 billion, marking a 4% increase from 2024, with Non-GAAP EPS rising by 9% year-over-year [2] - Revenue growth was broad-based, with Semiconductor Systems revenue up 4%, Applied Global Services revenue growing 3% to a record $6.4 billion, and Display revenue increasing by 20% [2] Market Position and Future Outlook - For FQ1 2026, the company anticipates revenue of approximately $6.85 billion and Non-GAAP EPS of around $2.18, positioning itself to benefit from the AI computing boom and advanced semiconductor investments [3] - Applied Materials aims to capture over 50% of its served market in advanced semiconductors and wafer fab equipment, supported by strong co-innovation relationships that provide visibility into future technology developments [3][4]