Wall Street analyst price targets, ratings consensus & upside potential · Updated Feb 28, 2026
Last 12 months price action with 12-month analyst target path
As of March 2, 2026, Applied Materials, Inc. (AMAT) has a Wall Street consensus price target of $420.83, based on estimates from 53 covering analysts. With the stock currently trading at $372.30, this represents a potential upside of +13.0%. The company has a market capitalization of $295.23B.
Analyst price targets range from a low of $290.00 to a high of $470.00, representing a 43% spread in expectations. The median target of $430.00 aligns closely with the consensus average.
The current analyst consensus rating is Buy, with 42 analysts rating the stock as a Buy or Strong Buy,11 rating it Hold, and 0 rating it Sell or Strong Sell. This overwhelmingly bullish sentiment suggests analysts see significant catalysts for upside ahead.
From a valuation perspective, AMAT trades at a trailing P/E of 43.0x and forward P/E of 33.9x. The forward PEG ratio of 1.97 indicates reasonable valuation for growth. Analysts expect EPS to grow +25.4% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $518.03, with bear and bull scenarios of $261.45 and $641.67 respectively. Model confidence stands at 67/100, reflecting moderate uncertainty in projections.
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Start ComparisonApplied Materials, Inc. (AMAT) has a consensus 12-month price target of $420.83, implying 13.0% upside from $372.3. The 53 analysts covering AMAT see moderate appreciation potential.
AMAT has a consensus rating of "Buy" based on 53 Wall Street analysts. The rating breakdown is predominantly bullish, with 42 Buy/Strong Buy ratings. The consensus 12-month price target of $420.83 implies 13.0% upside from current levels.
AMAT trades at a forward P/E of 33.8676x, representing a moderate valuation. With analysts targeting $420.83 (13.0% implied move), the stock appears reasonably valued with upside.
The most bullish Wall Street analyst has a price target of $470 for AMAT, while the most conservative target is $290. The consensus of $420.83 represents the median expectation. Our quantitative valuation model projects a bull case target of $642 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
AMAT is heavily covered by Wall Street, with 53 analysts providing price targets and ratings. Of these, 1 have Strong Buy ratings, 41 have Buy ratings, 11 recommend Hold, and 0 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
The 12-month AMAT stock forecast based on 53 Wall Street analysts shows a consensus price target of $420.83, with estimates ranging from $290 (bear case) to $470 (bull case). The median consensus rating is "Buy". Our proprietary valuation model produces a base case fair value of $518, with bear/bull scenarios of $261/$642.
Our quantitative valuation model calculates AMAT's fair value at $518 (base case), with a bear case of $261 and bull case of $642. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 67/100.
AMAT trades at a forward P/E ratio of 33.9x based on next-twelve-months earnings estimates compared to a trailing P/E of 43.0x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Wall Street analysts are optimistic on AMAT, with a "Buy" consensus rating and $420.83 price target (13.0% upside). 42 of 53 analysts rate it Buy or Strong Buy. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
AMAT analyst price targets range from $290 to $470, a 43% moderate spread showing some variance in outlooks. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $420.83 consensus represents the middle ground. Our model's $261-$642 range provides an independent fundamental perspective.