Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTAanchal SugandhSat, June 27, 2026 at 6:58 PM GMT+2 5 min readApplied Materials Inc_ campus sign-by Sundry Photography via iStockApplied Materials (AMAT) has found itself in Wall Street's sweet spot after Bank of America Corporation turned even more bullish on the semiconductor industry's artificial intelligence (AI) driven future. The investment firm now believes visibility into AI-related spending extends through 2028, prompting analysts led by Vivek Arya to lift their CY2027 wafer fab equipment forecast by 4% to $190 billion, representing 31% year-over-year (YOY) growth, up from the previous estimate of $183 billion and 27% growth. More News from BarchartBillionaire Mark Cuban Says If We Fined Insurance Companies and Providers $100 Each Time They Overbilled, 'We Could Pay Off the National Debt'