Applied Materials Rallies 2.5% on TSMC Partnership

Applied Materials shares jumped 2.46% to $445.76, hitting a 52‑week high of $447.85 after announcing a partnership with TSMC.
The collaboration will be based at Applied’s $5 billion EPIC Center in Silicon Valley, aiming to co‑develop AI‑chip materials and equipment.
Cantor Fitzgerald and Morgan Stanley upgraded their ratings, raising price targets to $550 and $454 respectively, citing strong demand outlook.
Applied is set to report Q2 earnings on May 14, with consensus EPS estimate of $2.68, while broader indices posted modest gains.