Applied Materials shares jump 4.9% after announcing chip packaging collaboration with Broadcom

Applied Materials announced a partnership with Broadcom to accelerate development of advanced chip packaging technologies for next-generation AI systems, leveraging Applied Materials' research and development capabilities.

The stock rose 4.9% in the afternoon session following the announcement, cooling to $423.78 (up 4.1% from previous close). Applied Materials is up 57.6% since the beginning of the year and trading near its 52-week high of $443.62 from May 2026.

The market's measured response reflects that while meaningful, the news is not seen as fundamentally shifting perception of the business—Applied Materials has experienced 22 moves greater than 5% over the last year.