Applied Materials and Seagate Surge on AI Infrastructure Demand

Key Facts

1Applied Materials stock rose 5.85% following strong Q2 2026 financial results and an optimistic outlook driven by AI infrastructure demand.

2Seagate stock climbed 4.09% following a positive rating from Mizuho and increasing data storage demand in cloud data centers.

Amid the global race to enhance advanced computing capabilities, semiconductor and data storage companies have emerged as primary beneficiaries of data center expansion. Applied Materials stock rose 5.85% following the announcement of strong Q2 2026 financial results, accompanied by an optimistic outlook driven by surging demand for chip manufacturing equipment. Simultaneously, Seagate stock climbed 4.09% after receiving a positive rating from Mizuho, reflecting confidence in growing demand for cloud data storage solutions.

This momentum arrives as the technology sector pivots toward AI infrastructure, with firms competing to secure supply chains. Compared to peers, market data shows relative outperformance for these companies; for instance, Nvidia reported record data center revenue growth in its latest quarter per its earnings report, bolstering the outlook for suppliers like Applied Materials. Furthermore, Mizuho estimates suggest Seagate is positioned to benefit from the replacement cycle of high-capacity hard drives in hyperscale data centers.

Regarding current price levels, AMAT settled at $497.01 while STX closed at $815.99 (close June 10, 2026). Investors should monitor upcoming macroeconomic data, including U.S. Initial Jobless Claims, which could impact risk appetite in the growth sector. Technical resistance levels at recent highs ($534.44 for AMAT and $855.51 for STX) remain pivotal focal points for traders in the coming sessions.