UBS is adopting a more bullish stance on Applied Materials . The bank upgraded the semiconductor equipment maker to buy from neutral. Analyst Timothy Arcuri also lifted his 12-month price target to $285 from $250, which points to upside of 23% from Monday's close. Arcuri pointed to a "significant more bullish outlook" for wafer fab equipment, or WFE, over the next two years. Wafer fab equipment is used to process raw semiconductor wafers into microchips. AMAT YTD mountain AMAT YTD chart Rising demand for memory means that Arcuri now expects WFE to increase more than 20% year-over-year to $136.5 billion in 2026. This number could approach $145 billion in 2027, a level "well above current Street expectations," Arcuri said. "Importantly, within our coverage universe, AMAT stands out as the la

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