Why Did AMD, WULF, AMAT Stocks Jump To 52-Week Highs?

Advanced Micro Devices, TeraWulf and Applied Materials surged to annual highs on Monday due to a series of announcements and growing Wall Street optimism.

• AMD shares closed up nearly 7% after it announced the acquisition of MEXT, an AI-driven memory optimization technology company. 
• WULF shares were up more than 8% at close after Bank of America initiated coverage on the company with a ‘Buy’ rating. 
• AMAT closed more than 3% higher after introducing two new chipmaking systems.

Shares of Advanced Micro Devices Inc. (AMD), TeraWulf Inc. (WULF), and Applied Materials Inc. (AMAT) surged to annual highs on Monday amid company updates and growing Wall Street optimism.

AMD shares closed up nearly 7% after it announced the acquisition of MEXT, an AI-driven memory optimization technology company. WULF shares were up more than 8% at close following the initiation of analyst coverage, while AMAT closed up more than 3% after the company unveiled two new chipmaking systems.

Advanced Micro Devices Rallies On Memory Optimism

On Monday, AMD shares surged to a 52-week high of $558.37, bolstered by some dealmaking news, even as rising demand for memory has led to a more than fourfold increase in its stock price over the last year.

The chip maker said that it was buying MEXT, a memory-optimization company, for an undisclosed amount. The purchase is expected to help AMD mitigate rising memory prices.

The company added that the acquisition expands its AI portfolio and would help data center customers improve performance, reduce ownership costs, and accelerate time to deployment.

The acquisition announcement followed AMD's first-ever rise above $900 billion in market capitalization, driven by the launch of a product designed to compete with Nvidia's DGX Spark.

The company has also attracted optimism from Wall Street analysts in the past week on its growing AI opportunity. Citi upgraded AMD to ‘Buy’ from ‘Neutral’ last week and lifted its price target to $575 from $460. Analysts at BofA also raised their price target on the company to $560 from $500 and maintained a ‘Buy’ rating, pointing to its growing server CPU opportunity driven by agentic AI.

AMD shares have surged more than 144% in 2026 alone, although retail sentiment around the stock is in the ‘bearish’ territory.

TeraWulf Surges On Wall Street Optimism Over AI Infrastructure Ambition

WULF shares climbed to an annual high of $28.44 in Monday’s intraday session after Bank of America (BofA) initiated coverage with a ‘Buy’ rating and a $34 price target.

BofA analyst Michael Funk noted that TeraWulf is transitioning away from volatile legacy bitcoin mining and is developing digital infrastructure for high-performance computing, providing exposure to a multiyear digital infrastructure development pipeline.

The analyst said that the company expects to reach up to 3 GW of critical IT load capacity by 2030, with near-term catalysts including completing developments at Lake Mariner by year-end and announcing a customer for Justified Data in Kentucky, which is adding to positive sentiment.

BofA’s initiation follows a series of bullish calls from Wall Street on the company. Last month, B. Riley and Oppenheimer also began coverage on the company with price targets of $32 and $35, respectively.

These follow TeraWulf's first-quarter results, in which the company’s high-performance computing lease revenue overtook Bitcoin mining for the first time.

WULF shares have gained more than 121% so far in 2026, with retail sentiment trending in the ‘neutral’ territory at the time of writing.

Applied Materials Climbs On New Reveals, Strong Multi-Year AI Demand

Shares of the leading semiconductor manufacturing equipment and software supplier climbed to a 52-week high of $599.62 on Monday after it revealed two new chipmaking systems aimed at helping chipmakers overcome growing challenges in production.

The company introduced the Centris Spectral SiN ALD system, which uses advanced plasma technology to deposit high-quality silicon nitride films uniformly within challenging 3D structures. The technology is designed to improve performance and scaling in logic and DRAM chips.

AMAT also launched the Producer Selectra Mo Etch system, which enables highly selective removal of molybdenum used in advanced 3D NAND memory. The system improves uniformity, reduces electrical leakage, and supports continued memory scaling by replacing limitations associated with traditional wet-etch processes, it said.

The company has also garnered significant attention on Wall Street recently. Last week, Barclays analyst Tom O'Malley raised the price target on Applied Materials to $590 from $500 and maintained an ‘Overweight’ rating on the shares. The analyst said that it increased its estimates for wafer fab equipment, saying the capex cycle is "much stronger across the board." UBS analyst Timothy Arcuri also raised the price target on Applied Materials to $570 from $515 and kept a ‘Buy’ rating on the shares.

AMAT stock has surged 117.87% so far in 2026. Meanwhile, on Stocktwits, retail sentiment around the company was in the ‘neutral’ territory at the time of writing.

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