EL7.AI
StocksUpdated•Originally published 9 July 2026•Updated 9 July 2026•
2 min read

Major Banks Raise Price Targets for Semiconductor Firms and Amazon on AI Boom

Major Banks Raise Price Targets for Semiconductor Firms and Amazon on AI Boom

Key Facts

1Morgan Stanley raised Lam Research (LRCX) price target to $404 from $331, maintaining an Overweight rating.
2Morgan Stanley increased KLA Corporation (KLAC) price target to $274 from $190, maintaining an Equal Weight rating.
3BofA raised Amazon (AMZN) price target to $165 from $145, citing strong Q2 trends and product sell-through.
4Mizuho raised Lam Research (LRCX) price target to $400 from $380, citing growth in wafer fabrication equipment.

In a move reflecting sustained optimism in the tech sector, several major financial institutions have raised price targets for leading semiconductor equipment makers and Amazon. Morgan Stanley raised its target for Lam Research (LRCX) to $404 with an Overweight rating and increased its KLA Corporation (KLAC) target to $274. Simultaneously, BofA raised its Amazon (AMZN) target to $165 citing strong Q2 trends, while Mizuho boosted its LRCX target to $400 on expected growth in wafer fabrication equipment.

This momentum comes as the semiconductor industry undergoes a massive expansion, with expert estimates suggesting the market could reach multi-trillion dollar levels by 2030 driven by AI demand. Compared to peers, market data shows strong performance among infrastructure providers; for instance, Applied Materials (AMAT) stood at $592.79 as of the July 6, 2026 close, highlighting collective confidence in the essential equipment suppliers powering hyperscale data center expansions.

Investors should monitor current price levels, as AMZN traded at $247.04 and KLAC at $229.52 (as of July 9, 2026), while LRCX settled at $333.15 (as of July 8, 2026). With no immediate sector-specific catalysts in the upcoming economic calendar, upcoming quarterly earnings reports and corporate guidance updates will remain the primary drivers to test these new price targets.