Woofun AI reports that Jefferies raised Applied Materials' price target from $510 to $770 on June 25, maintaining a "Buy" rating. The analyst firm cites AI-driven complexity in DRAM, HBM, and advanced packaging as key growth drivers. DRAM addressable market is projected to rise from $6 billion to $7.5 billion, while HBM requires 3-4x wafer input, amplifying equipment demand where AMAT holds 50% share. Advanced packaging revenue is expected to exceed $2 billion this year, growing over 50%. Financial estimates include FY2026 EPS of $14.01 and FY2027 EPS of $18.06. Risks involve slowing cloud vendor capex and market stagnation.