Applied Materials Inc. (AMAT) shares reached a record high of $331 following Taiwan Semiconductor’s record earnings. TSMC plans to spend $54 billion this year, benefiting AMAT as a key supplier of semiconductor equipment. AMAT stock has surged 165% from its 52-week low. KeyBanc analysts predict further growth, raising the price target to $380. AMAT’s exposure to memory and logic chips positions it well for AI development. The stock is more attractively priced compared to industry peers. Consensus rating on AMAT is a “Moderate Buy” with a potential upside of 23%.

Read more at Barchart: Applied Materials Stock Just Hit a New All-Time High. Should You Buy AMAT Here?