🟢 Applied Materials is trading 8.9% up today as chip stocks rally on JPMorgan upgrade

Applied Materials is trading 8.9% up at $116.75 as the semiconductor sector rebounds from last week's sharp selloff and AI-related profit-taking.

• The move follows a strong sector-wide rally driven by earnings optimism and a JPMorgan upgrade of the semiconductor sector to Overweight.
• Market sentiment improved significantly as the SOXX ETF jumped approximately 4% during today's session.