# Investors are bailing on Applied Materials (AMAT) following reports that OpenAI missed internal revenue and user growth targets.

*business · news · 2026-04-28 · Barchart*

## Key points

- OpenAI has missed internal revenue and user growth targets, according to a recent report.
- Applied Materials stock broke below its 20-day moving average due to concerns about AI demand.
- Chipmakers may slow orders for AMAT's EUV and GAA equipment if AI software growth stalls.
- AMAT remains a key beneficiary from the shift to 2nm process nodes and high-bandwidth memory.
- Wall Street consensus still rates AMAT as a 'Strong Buy,' with price targets above $500.

**Companies:** Applied Materials, Intel, Samsung

[Read the full story on Barchart](https://www.barchart.com/story/news/1568233/as-openai-drags-down-chip-stocks-is-applied-materials-stock-a-buy-sell-or-hold)

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