Applied Materials (AMAT) and EssilorLuxottica Sign Long-Term Deal, Reuters Reports

Applied Materials, Inc. (NASDAQ:AMAT) is one of the best AI memory stocks to buy in 2026. Reuters reported on June 16 the signing of a long-term deal between EssilorLuxottica and Applied Materials, Inc. (NASDAQ:AMAT) for the development of augmented reality display technology and AI ​glasses. The companies reported that they would scale up the commercialisation of AI glasses, with the research and development focusing on advanced optical technologies.

In a separate development, Applied Materials, Inc. (NASDAQ:AMAT) received a rating update from Barclays on June 11. The firm lifted the price target on the stock to $590 from $500 and maintained an Overweight rating on the shares, telling investors in a research note that the firm raised its estimates for wafer fab equipment. It stated that the capex cycle is “much stronger across the board”, adding that over $200B in sales looks likely in 2027, but the “world has moved to 2028 already”.

Applied Materials, Inc. (NASDAQ:AMAT) provides materials engineering solutions used to produce semiconductors and also focuses on the design, production, development, and servicing of critical wafer fabrication tools used for customers for the manufacture of semiconductors. The company’s operations are divided into the following segments: Semiconductor Systems and Applied Global Services (AGS).

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