The stock price of Applied Materials, Inc. (AMAT) has seen a significant rise attributed to several factors. Firstly, the company has outperformed the broader market and the Technology & Communications sector, driving investor interest. Analysts' revised estimates and the company's valuation with a lower Forward P/E ratio than the industry average have led to increased confidence. Additionally, Warren Buffett's detailed fundamental analysis rated AMAT highly, reflecting strong interest in the stock. Although higher bond yields have weighed on stocks, chip stocks like AMAT have provided support, further bolstering the company's position in the market.