Applied Materials Inc (NASDAQ:AMAT) is one of billionaire Ken Fisher’s top high growth stock picks. Applied Materials shares have gained more than 85% since the beginning of 2026 and have surged more than 187% over the past year.
On June 10, Applied Materials Inc (NASDAQ:AMAT) officially opened its new manufacturing facility in Singapore. This $500 million plant is part of the company’s efforts to nearly double its global production capacity to meet the growing demand for AI chips. As part of this expansion, the company plans to increase its Southeast Asia workforce by 25% this year.
Speaking at the opening event, Applied Materials CEO Gary Dickerson said there was strong demand from all their different customers. The company expects the demand to continue into 2027 and beyond.
Applied Materials’ semiconductor business is expected to grow more than 30% in 2026 and keep growing at that rate in the coming years. Moreover, the company expects revenue from sales of advanced packaging tools to increase 50% in 2026. This growth is expected to be fueled by expanding high-bandwidth memory production and increasing adoption of 3D stacking technology.
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