Applied Materials is trading 3.42% higher at $105.75, with the reason for the gain unclear. - No company-specific announcement found clearly explains the September 29 rise. - On September 28, Morgan Stanley cut its target to $563 from $642, kept Equal-weight, lowered its valuation multiple, and raised its 2027 revenue forecast; the cut does not clearly explain the gain. - Sector context showed semiconductor weakness on September 28, not a same-direction move today; broad indices were nearly flat.