Top After-Hours Gainers Today Beyond Micron: QCOM, AMAT, LRCX Surge

Qualcomm, Applied Materials and Lam Research were among the top after-hours gainers on Wednesday, buoyed higher by a surge in AI chip stocks.

• QCOM shares rallied nearly 11% after it unveiled solid long-term growth targets, expanded its AI strategy, and announced a major partnership with Meta in its investor day. 
• AMAT shares rose about 5.5% boosted by Micron's upbeat earnings and renewed optimism around AI-related semiconductor demand.
• LRCX stock rose more than 5% following Micron’s results and upbeat Wall Street outlook.

While Micron Technology Inc. (MU) was among the top gainers in Wednesday’s overnight session after it posted stellar third-quarter results, Qualcomm, Inc. (QCOM), Applied Materials Inc. (AMAT), and Lam Research Corp. (LRCX) also posted significant gains.

QCOM shares rallied nearly 11% after notable updates were announced at its investor day. AMAT and LRCX shares also rose more than 5% each at the time of writing.

Qualcomm Pops On Strong Revenue Target, Meta Deal

Shares of Qualcomm soared in after-hours trading after the chipmaker unveiled ambitious long-term growth targets, expanded its AI strategy, and announced a major partnership with Meta Platforms (META) in its investor day on Wednesday.

Qualcomm raised its fiscal 2029 revenue outlook, doubling its non-handset revenue target to $40 billion. The company also introduced a comprehensive AI data center strategy, targeting more than $15 billion in annual revenue from the segment by fiscal 2029. The company’s other long-term goals include over $14 billion from IoT, $8 billion from industrial, networking and robotics, $6 billion from personal AI and compute, and $10 billion in automotive revenue.

Moreover, Qualcomm announced a multi-year partnership with Meta, under which it will supply data center CPUs, including its Dragonfly C1000 processor, for Meta's AI infrastructure beginning in the second half of 2028. The chipmaker also disclosed that it has secured two major hyperscaler customers and that it expects its custom silicon business to generate meaningful revenue starting in early 2027. Separately, the company announced the $3.92 billion acquisition of Modular to strengthen its AI software and compute capabilities.

On Stocktwits, retail sentiment around QCOM stock has shifted from ‘bearish’ to ‘bullish’ over the past 24 hours. The company’s shares are up about 14% so far this year.

Applied Materials Soars On MU Gains, AI Optimism

Applied Materials shares rose about 5.5% in after-hours trading on Wednesday, buoyed by Micron's upbeat earnings and renewed optimism around AI-related semiconductor demand.

Applied Materials and Micron have maintained a long-standing partnership to advance next-generation memory technologies for AI and high-performance computing.

Most recently, in March, the companies expanded their collaboration to jointly develop next-generation DRAM, HBM and NAND solutions at Applied's new EPIC Center in Silicon Valley and Micron's R&D hub in Boise, aiming to accelerate the development of more energy-efficient, high-performance AI memory and storage technologies.

Micron CEO Sanjay Mehrotra said in the earnings call that AI-driven demand for memory remains exceptionally strong, with supply expected to stay tight through at least 2027, underscoring the need for continued investment in semiconductor manufacturing equipment, which is a positive read-through for companies like Applied Materials.

Meanwhile, Bank of America recently raised its price target on AMAT to $720 from $540 and kept a ‘Buy’ rating on the shares, indicating more than 22% upside potential, according to The Fly.

On Stocktwits, retail sentiment around AMAT stock was in the ‘bullish’ territory at the time of writing. The company’s shares are up about 119% so far this year.

Lam Research Rallies On MU’s Strong Outlook, Wall Street Optimism

Lam Research stock also rose more than 5% in after-hours trading following Micron’s stronger-than-expected quarterly results and upbeat outlook.

The company is one of Micron's key equipment suppliers and provides advanced deposition and etch systems used to produce high-density DRAM and NAND memory chips, making it a direct beneficiary of the expansion of memory capacity.

In February, Lam opened a new office in Boise, Idaho, to support collaborative research, development, and high-volume manufacturing with Micron.

Meanwhile, BofA raised its price target on Lam Research to $480 from $330 and maintained a Buy rating on the shares, indicating about 28% upside from its last close, as per TheFly.  

On Stocktwits, retail sentiment around LRCX stock was in the ‘extremely bullish’ territory at the time of writing. The company’s shares have more than doubled so far in 2026.

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