$AMD

Sector Update: Tech Stocks Gain Pre-Bell Thursday

Technology stocks were higher pre-bell Thursday, with the State Street Technology Select Sector SPDR ETF (XLK) advancing 0.1% and the State Street SPDR S&P Semiconductor ETF (XSD) 0.5% higher.Alphabet (GOOG, GOOGL) shares gained by 1.2% before the opening bell after closing the prior session with a 2.8% increase. Bloomberg reported Thursday that Google has proposed changes to how it shows news results in its search engine to avoid further EU competition fines.Advanced Micro Devices (AMD) stock was down 1.8% pre-bell after closing the prior session with a 18.6% rise. The company overnight posted stronger-than-expected fiscal Q1 results and issued an upbeat Q2 revenue outlook.ARM (ARM) shares fell over 7% in premarket activity after CEO Rene Haas said, in an earnings call with investors, that while demand for ARM's new AGI CPU doubled to $2 billion within six weeks of its launch, the company has only secured enough manufacturing capacity to fulfill half of those orders.

CBOE Volatility Index Steady Early Thursday as US, Iran Likely Heading Toward Peace Agreement

Nasdaq, S&P 500 Hit New Highs as Iran Deal Prospects Brighten

The Nasdaq Composite and the S&P 500 climbed to new peaks and oil prices tumbled on Wednesday following reports about the US and Iran nearing a potential peace agreement.The Nasdaq Composite rose 2% to 25,838.9, while the S&P 500 advanced 1.5% to 7,365.1, recording their highest close ever and biggest one-day percentage gains since April 8. The Dow Jones Industrial Average gained 1.2% to settle at 49,910.6.Barring energy and utilities, all sectors ended in the green, led by industrials and technology, which gained 2.6% each.West Texas Intermediate crude was last down 6.9% at $95.20 per barrel, while Brent slumped 7.7% to $101.40.American and Iranian officials are close to a one-page memorandum of understanding to end the war and establish a framework for nuclear negotiations, Axios reported Wednesday, citing sources."A deal announcement would move futures further immediately, in fact even the potential of a deal is already triggering a decline in oil prices," Rystad Energy Chief Oil Analyst Paola Rodriguez-Masiu said in remarks emailed to.The physical market's recovery won't be as quick as the futures market predicts, Rodriguez-Masiu said, pointing to a six-to-eight-week lag between the strait reopening and oil flows normalizing.US President Donald Trump said the US has had "very good talks" with Iran over the past 24 hours, but there is no deadline on when he expects Tehran to respond to a US proposal to end the war, CNN reported.Trump warned that Iran's failure to agree to a deal would trigger a powerful military operation, according to his social media post from earlier in the day.Iran said it was reviewing the latest US proposal, according to news reports.US Treasury yields were lower, with the 10-year rate down 7.8 basis points at 4.35% and the two-year rate falling 7.4 basis points to 3.88%.In company news, Advanced Micro Devices (AMD) shares surged nearly 19%, among the best performers on the S&P 500.Late Tuesday, the chipmaker reported stronger-than-expected first-quarter results as demand for artificial intelligence infrastructure pushed data center revenue higher year over year.Advanced Micro Devices is expected to capture about half of the total addressable market for server central processing units, which the company expects will exceed $120 billion by 2030, BofA Securities said.Walt Disney's (DIS) fiscal second-quarter results came in ahead of market estimates Wednesday amid revenue gains across all business operations, while the media and entertainment giant reiterated its expectations for growth to accelerate in the second half. Disney's shares climbed 7.5%, the top performer on the Dow.Nvidia (NVDA) followed Disney on the Dow, up 5.8%. Specialty glass maker Corning (GLW) will boost its optical connectivity manufacturing capacity under a multiyear partnership with the chipmaking giant to support AI factory buildouts. Corning shares jumped 12%.Arista Networks (ANET) shares tumbled nearly 14%, among the worst S&P 500 performers. Late Tuesday, the cloud networking company issued a second-quarter revenue outlook slightly below market estimates.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP (ADP) data showed."The uptick in private payroll gains from the ADP employment report not only suggests a stable labor market, but one that was potentially warming despite the outbreak of the war in Iran," Oxford Economics said in a note. "If this signal is echoed in the official measure on Friday, the unemployment rate is likely to fall given the low break-even rate, which we estimate is near zero."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 65,000 nonfarm jobs last month, which would represent a fall from a 178,000 increase reported for March, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.St. Louis Fed President Alberto Musalem said Wednesday that risks have shifted toward higher inflation."We have risks both on the employment side and on the inflation side," Musalem said at a Mississippi Bankers Association event, according to a Reuters report. "In my understanding risks have been shifting towards ... the inflation side."Gold rose 3.1% to $4,708.50 per troy ounce, while silver climbed 6.1% to $78.05 per ounce.

US Equity Indexes Surge as Iran Peace Deal Expectations Rise, AMD's Q1 Boosts Chipmakers

US equity indexes jumped while crude oil futures sank on Wednesday amid a growing likelihood of Iran agreeing to a peace deal and a rally in semiconductors following Advanced Micro Devices' (AMD) strong Q1 results.The Nasdaq traded 2% higher at 25,838.94 after scaling a new peak of 25,850.19. The S&P 500 was up 1.5% to 7,365.12 after hitting an all-time high of 7,369.22 earlier in the session. The Dow Jones Industrial Average advanced 1.2% to 49,910.59.All sectors, except energy and utilities, rose. Technology, industrials, and communication services were among the top gainers.The White House is close to agreeing on a one-page memorandum of understanding to end the war with Iran and set a framework for more detailed negotiations about Tehran's nuclear ambitions, Axios reported, citing two US officials and two other sources briefed on the issue. While nothing is final yet, the sources said this was the closest the duo has been to an agreement since the war began.Washington's MoU, if Iran accepts it, will lead to a gradual reopening of the Strait of Hormuz and lifting of the American blockade on Iranian ports, a person familiar with the matter told Bloomberg.Meanwhile, President Donald Trump warned Iran that "bombing starts" again if a deal is not reached, according to multiple media reports.West Texas Intermediate crude oil futures sank 6.6% to $95.55, and Brent crude futures plunged 7.4% to $101.76.US Treasury yields fell, with the 10-year down 6.4 basis points to 4.35%, extending its retreat from the highest in about a month. Two-year yield slumped 6.8 basis points to 3.87%.In precious metals, gold futures jumped 2.9% to $4,702.20, and silver futures surged 6% to $77.99.In company news, Advanced Micro Devices (AMD) shares surged nearly 19%, among the top gainers on the S&P 500 and the Nasdaq, after the chipmaker overnight posted stronger-than-expected fiscal Q1 results and issued an upbeat Q2 revenue outlook.Out of the ten top performers in a category of firms with a market capitalization of over $200 billion, more than half were related to semiconductors, according to data compiled by Finviz. Topping this list was AMD, whose quarterly results reinforced growing confidence in accelerating demand for products and services linked with artificial intelligence.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP data showed Wednesday, ahead of nonfarm payrolls due later in the week. Private jobs grew by 109,000, representing the fastest growth pace since January 2025, the payrolls processing firm said. The consensus was for 120,000 in a Bloomberg-compiled survey. The March print was revised down to 61,000 from 62,000.

US Equity Markets End Higher as Nasdaq, S&P 500 Hit Records After Reports on US-Iran Peace Deal, Upbeat AMD Results

US equity indexes ended higher on Wednesday, with the S&P 500 and the Nasdaq Composite reaching new highs as the US-Iran closed in on a peace deal and Advanced Micro Devices' (AMD) Q1 results led a rally in semiconductor stocks.* The White House is close to agreeing on a one-page memorandum of understanding to end the war with Iran and set a framework for more detailed negotiations about Tehran's nuclear ambitions, Axios reported, citing two US officials and two other sources briefed on the issue.* Employment in the US private sector grew in April, ADP data showed Wednesday, ahead of nonfarm payrolls due later in the week. Private jobs grew by 109,000, representing the fastest growth pace since January 2025, compared with 120,000 expected in a Bloomberg-compiled survey.* June West Texas Intermediate crude oil fell $7.23 to settle at $95.04 per barrel, while July Brent crude, the global benchmark, was last seen down $8.59 at $101.28.* Advanced Micro Devices shares were up more than 18%, among the top gainers on the S&P 500 and the Nasdaq, after the chipmaker overnight posted stronger-than-expected fiscal Q1 results and issued an upbeat Q2 revenue outlook.* Arista Networks (ANET) shares were down nearly 14%, among the worst S&P 500 performers, after the cloud networking company issued a Q2 revenue outlook late Tuesday slightly below market estimates.

US Equity Indexes Jump as Iran Peace Deal Hopes Increase, AMD's Q1 Results Trigger Rally in Chipmakers

US equity indexes jumped ahead of Wednesday's close, with the S&P 500 and the Nasdaq Composite breaking records as a potential Iran peace deal was said to be in the offing, and Advanced Micro Devices' (AMD) Q1 results sparked a rally in semiconductors.The Nasdaq traded 1.9% higher at 25,794.3 after touching a record 25,814.50 intraday. The S&P 500 was up 1.4% to 7,362.2 after hitting an all-time high of 7,363.40 earlier in the session. The Dow Jones Industrial Average advanced 1.4% to 49,958.3.The White House is close to agreeing on a one-page memorandum of understanding to end the war with Iran and set a framework for more detailed negotiations about Tehran's nuclear ambitions, Axios reported, citing two US officials and two other sources briefed on the issue. While nothing is final yet, the sources said this was the closest the duo has been to an agreement since the war began.Washington's MoU, if Iran accepts it, will lead to a gradual reopening of the Strait of Hormuz and lifting of the American blockade on Iranian ports, a person familiar with the matter told Bloomberg. Meanwhile, President Donald Trump warned Iran that "bombing starts" again if a deal is not reached, according to multiple media reports.West Texas Intermediate crude oil futures sank 7.2% to $94.88, and Brent crude futures plunged 8.1% to $100.98.In company news, Advanced Micro Devices (AMD) shares surged nearly 18%, among the top gainers on the S&P 500 and the Nasdaq, after the chipmaker overnight posted stronger-than-expected fiscal Q1 results and issued an upbeat Q2 revenue outlook.

Sector Update: Tech Stocks Gain Late Afternoon

Tech stocks were higher late Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.4% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.1%.The Philadelphia Semiconductor index climbed 4.1%.In corporate news, Advanced Micro Devices (AMD) reported stronger-than-expected Q1 results as demand for AI infrastructure pushed data center revenue higher year-on-year. Its shares jumped past 17%.Nvidia (NVDA) and Corning (GLW) said Wednesday they have entered a multiyear commercial and technology partnership to expand US manufacturing of advanced optical connectivity technology to power AI infrastructure. Nvidia shares gained 5.5%.Alphabet's (GOOGL) Google Cloud is slated to receive about $200 billion over five years from Amazon-backed (AMZN) Anthropic for computing capacity and processors, The Information reported. Alphabet shares climbed 2.1%.Super Micro Computer (SMCI) shares surged nearly 23% in late Wednesday trading, a day after the company reported a fiscal Q3 adjusted earnings beat.

Advanced Micro Devices Set to Command Half of Growing Server CPU Market, BofA Says

Advanced Micro Devices (AMD) is expected to capture about half of the total addressable market for server central processing units, which the company expects will exceed $120 billion by 2030, BofA Securities said in a note emailed Wednesday.The chip maker's updated forecast for server CPU TAM is double its previous estimate amid rising agentic artificial intelligence demand, according to the brokerage.The server CPU market is now expected to grow more than 35% annually, reaching over $120 billion by 2030, AMD Chief Executive Lisa Su said late Tuesday during an earnings call, according to a FactSet transcript.The company previously expected market growth of 18% annually over the next three to five years.BofA expects AMD to capture a roughly 50% share of the server CPU market, with the remaining half split between rivals Intel (INTC) and Arm (ARM)."Rising CPU TAM is good for all CPU vendors, but we expect AMD to maintain/expand share on (the) back of broad portfolio, rising enterprise focus, continued cloud leadership and consistent roadmap execution," BofA analyst Vivek Arya wrote. "Separately, we expect AMD to potentially announce other large customers for GPUs for (2027) and beyond."Shares of AMD surged 18% in Wednesday afternoon trade.The company reported stronger-than-expected first-quarter results late Tuesday, as demand for AI infrastructure pushed data center revenue higher year over year."Inferencing and agentic AI are increasing the need for server CPU compute as these workloads require additional CPU processing for orchestration, data movement, and parallel execution in addition to serving as the head nodes for GPUs and accelerators," Su told analysts during the earnings call. "As a result, we are seeing both stronger near-term demand and deeper engagement with customers on long-term capacity planning."AMD currently represents about 6% of the AI TAM, and that figure is expected to grow toward double digits by 2030, Arya said.Still, AMD remains "exposed to uncertain share allocation between numerous OpenAI suppliers" including Nvidia (NVDA), Broadcom (AVGO) and Cerebras Systems, he said.Following AMD's first-quarter results, BofA raised the company's 2026 and 2027 pro-forma earnings per share estimate by 9% each to $7.28 and $11.80. The brokerage is projecting AMD's 2030 EPS potential at more than $27, above management's $20-plus target.BofA reiterated AMD's buy rating and lifted the price target to $450 from $310.Price: $417.82, Change: $+62.56, Percent Change: +17.61%

Equity Markets Rise Intraday, Oil Plunges Amid US-Iran Peace Deal Optimism

US benchmark equity indexes were higher intraday, while oil prices tumbled as investors reacted to reports saying that Washington and Tehran are nearing a potential agreement to end the war.The Nasdaq Composite was up 1.6% at 25,726 after midday Wednesday, while the S&P 500 advanced 1.1% to 7,339.3. Both indexes were on track for back-to-back record-high closings. The Dow Jones Industrial Average rose 1% to 49,792.1.Among sectors, industrials was outperforming with a 2.2% gain, while energy saw the steepest drop of 4.1%.West Texas Intermediate crude was down 6.6% at $95.57 per barrel, while Brent slumped 7% to $102.20.The US is nearing a deal with Iran on a one-page memorandum of understanding to end their conflict in the Middle East and establish a framework for more detailed nuclear negotiations, Axios reported Wednesday, citing two US officials and two other sources familiar with the matter.The two countries are moving closer to an agreement on a short memorandum to end the war, CNN also reported, citing a regional source familiar with the negotiations."Traders in the US woke up to see some real excitement in the markets today caused by the (Axios) news," Macquarie said in a note. "The good news, for now, is that the same sources that leaked the existence of a deal to Axios said this was the closest the parties had been to an agreement since the war began."US President Donald Trump issued a fresh warning to Iran, saying the "bombing starts" again if a deal is not reached."Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective blockade will allow the Hormuz Strait to be open to all, including Iran," Trump said in a social media post.Iran said it is still reviewing the latest US proposal, according to news reports.US Treasury yields were lower intraday, with the 10-year rate down 7.4 basis points at 4.36% and the two-year rate falling 7.2 basis points to 3.88%.In company news, Advanced Micro Devices (AMD) shares surged nearly 17%, among the best performers on the S&P 500. Late Tuesday, the chipmaker reported stronger-than-expected first-quarter results as demand for artificial intelligence infrastructure pushed data center revenue higher year over year.Walt Disney's (DIS) fiscal second-quarter results came in ahead of market estimates Wednesday amid revenue gains across all business operations, while the media and entertainment giant reiterated its expectations for growth to accelerate in the second half. Disney's shares climbed 6.5%, the top performer on the Dow.Nvidia (NVDA) followed Disney on the Dow, up 4.5%. Specialty glass maker Corning (GLW) will boost its optical connectivity manufacturing capacity under a multiyear partnership with chipmaking giant to support AI factory buildouts. Corning shares jumped 14%.Arista Networks (ANET) shares tumbled 16%, among the worst S&P 500 performers. Late Tuesday, the cloud networking company issued a second-quarter revenue outlook slightly below market estimates.Arm (ARM), Applovin (APP), DoorDash (DASH) and Warner Bros. Discovery (WBD) are expected to report after the closing bell Wednesday, along with others.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP (ADP) data showed."The uptick in private payroll gains from the ADP employment report not only suggests a stable labor market, but one that was potentially warming despite the outbreak of the war in Iran," Oxford Economics said in a note. "If this signal is echoed in the official measure on Friday, the unemployment rate is likely to fall given the low break-even rate, which we estimate is near zero."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 65,000 nonfarm jobs last month, which would represent a fall from a 178,000 increase reported for March, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.Gold rose 2.8% to $4,695.90 per troy ounce, while silver climbed 5.3% to $77.48 per ounce.

S&P 500, Nasdaq Hit Records as Iran Steps Closer to Peace Deal, AMD's Q1 Results Fire Up Chipmakers

US equity indexes rose after midday Wednesday, with the S&P 500 and the Nasdaq Composite scaling new highs as Iran closed in on a peace deal and Advanced Micro Devices' (AMD) Q1 results sparked a rally in semiconductors.The Nasdaq traded 1.6% higher at 25,737.8 after touching a record 25,741.14 intraday. The S&P 500 was up 1.2% to 7,342.9 after hitting an all-time high of 7,348.35 earlier in the session. The Dow Jones Industrial Average advanced 1.1% to 49,818.9.Communication services, industrials, materials, and technology led the gainers, while energy was the steepest decliner in midday trading.The White House is close to agreeing on a one-page memorandum of understanding to end the war with Iran and set a framework for more detailed negotiations about Tehran's nuclear ambitions, Axios reported, citing two US officials and two other sources briefed on the issue. While nothing is final yet, the sources said this was the closest the duo has been to an agreement since the war began.Washington's MoU, if Iran accepts it, will lead to a gradual reopening of the Strait of Hormuz and lifting of the American blockade on Iranian ports, a person familiar with the matter told Bloomberg. Meanwhile, President Donald Trump warned Iran that "bombing starts" again if a deal is not reached, according to multiple media reports.West Texas Intermediate crude oil futures sank 6.8% to $95.47, and Brent crude futures plunged 7.9% to $101.97.US Treasury yields fell, with the 10-year down 6.2 basis points to 4.35%, extending its retreat from the highest in about a month. Two-year yield slumped 6.9 basis points to 3.87%.In precious metals, gold futures advanced 2.8% to $4,697.9, and silver futures surged 5.4% to $77.59.In company news, Advanced Micro Devices (AMD) shares surged nearly 17%, among the top gainers on the S&P 500 and the Nasdaq, after the chipmaker overnight posted stronger-than-expected fiscal Q1 results and issued an upbeat Q2 revenue outlook.Out of the 10 top performers in a category for companies with a market capitalization of more than $200 billion, over half were from the semiconductor industry, according to data compiled by Finviz. AMD's results reinforced growing confidence in the accelerating demand for artificial intelligence-related products and services.Walt Disney's (DIS) fiscal Q2 results beat estimates amid revenue gains across all business operations, and the media and entertainment giant reiterated expectations that growth will accelerate in H2. Shares jumped 6.7%, the Dow's top gainer.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP data showed Wednesday, ahead of nonfarm payrolls due later in the week. Private jobs grew by 109,000, representing the fastest growth pace since January 2025, the payrolls processing firm said. The consensus was for 120,000 in a Bloomberg-compiled survey. The March print was revised down to 61,000 from 62,000.

Sector Update: Tech Stocks Gain Wednesday Afternoon

Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.9% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.6%.The Philadelphia Semiconductor index climbed 3.4%.In corporate news, Advanced Micro Devices (AMD) reported stronger-than-expected Q1 results as demand for AI infrastructure pushed data center revenue higher year-on-year. Its shares jumped past 16%.Nvidia (NVDA) and Corning (GLW) said Wednesday they have entered a multiyear commercial and technology partnership to expand US manufacturing of advanced optical connectivity technology to power AI infrastructure. Nvidia shares gained 4.5%.Alphabet's (GOOGL) Google Cloud is slated to receive about $200 billion over five years from Amazon-backed (AMZN) Anthropic for computing capacity and processors, The Information reported. Alphabet shares climbed 2.4%.

RBC Capital Lifts Advanced Micro Devices Price Target to $400 From $325, Maintains Sector Perform Rating

Advanced Micro Devices (AMD) has an average rating of Buy and mean price target of $410.23, according to analysts polled by FactSet.Price: $411.71, Change: $+56.45, Percent Change: +15.89%

Sector Update: Tech

Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.6% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.3%.The Philadelphia Semiconductor index climbed 3%.In corporate news, Advanced Micro Devices (AMD) reported stronger-than-expected Q1 results as demand for AI infrastructure pushed data center revenue higher year-on-year. Its shares jumped past 16%.

S&P 500, Nasdaq Break Records as Iran Peace Deal Reportedly in Offing, AMD Helps Boost Technology

US equity indexes rose after midday Wednesday, with the S&P 500 and the Nasdaq Composite scaling new all-time peaks, amid growing expectations of a peace deal with Iran and as quarterly earnings lifted the technology landscape.The Nasdaq traded 1.5% higher at 25,704.2 after touching a record 25,708.84 intraday. The S&P 500 was up 1.2% to 7,346.5 after hitting an all-time high of 7,348.35 earlier in the session. The Dow Jones Industrial Average advanced 1.2% to 49,892.6.The White House is of the view that an agreement with Tehran -- a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations -- is close, Axios reported, citing two US officials and two other sources briefed on the issue. Washington's MoU, if Iran accepts it, will lead to the gradual reopening of the Strait of Hormuz and lifting of the American blockade on Iranian ports, a person familiar with the matter told Bloomberg.West Texas Intermediate crude oil futures sank 6.9% to $95.34, and Brent crude futures plunged 7.7% to $102.20.In company news, Advanced Micro Devices (AMD) shares surged 17%, among the top gainers on the S&P 500 and the Nasdaq, after the chipmaker overnight posted stronger-than-expected fiscal Q1 results and issued an upbeat Q2 revenue outlook.

Advanced Micro Devices CPU Momentum Strong, GPU Upside Key for Outperformance, RBC Says

Advanced Micro Devices (AMD) reported solid results and an upbeat outlook but further outperformance will depend on GPU ramp execution, while competition and execution risks remain longer term, RBC Capital Markets said in a Wednesday research note.The company posted higher year-over-year Q1 adjusted earnings of $1.37 per diluted share from $0.96. Revenue increased to $10.25 billion from $7.44 billion. Advanced Micro Devices issued Q2 revenue guidance of $11.2 billion, plus or minus $300 million.Advanced Micro Devices' server central processing unit, or CPU, segment outperformed in Q1. It grew more than 50% year on year supported by agentic artificial intelligence. AI graphics processing unit, or GPU, also posted a substantial double-digit growth on an annual basis, the investment firm added.The company could face risks from intensifying competition with ARM (ARM) in the server CPU market. RBC said further outperformance would depend largely on ramps of MI455/Helios, with limited near-term catalysts until the MI GPU cycle scales.RBC raised its price target on AMD to $400 from $325, with a sector perform rating.Shares of Advanced Micro Devices were up more than 16% in Wednesday afternoon trading.Price: $414.15, Change: $+58.89, Percent Change: +16.58%

Top Midday Stories: AMD Q1 Earnings, Q2 Guidance Top Estimates; Nvidia, Corning Enter Multiyear Commercial and Technology Partnership

All three major US stock indexes were up over 1% in late-morning trading Wednesday, as investors showed optimism that the US and Iran were nearing an agreement to end the war.In company news, Advanced Micro Devices (AMD) reported Q1 adjusted earnings late Tuesday of $1.37 per diluted share, up from $0.96 a year earlier and above the FactSet consensus analyst estimate of $1.29. First-quarter revenue was $10.25 billion, up from $7.44 billion a year ago and above the FactSet consensus of $9.90 billion. For Q2, the company said it expects revenue of $11.2 billion, plus or minus $300 million, above the FactSet consensus of $10.54 billion. AMD shares were up 17.7% around midday.Nvidia (NVDA) and Corning (GLW) said Wednesday they have entered a multiyear commercial and technology partnership to expand US manufacturing of advanced optical connectivity technology to power AI infrastructure. Under the partnership, Corning will increase its US-based optical technology production capacity by 10x and expand its US fiber production capacity by over 50%, the companies said. In connection with the partnership, Corning said Wednesday in an SEC filing that it sold a warrant to Nvidia to buy up to 15 million shares of its common stock at an exercise price of $180.00 per share. Nvidia also acquired a pre-funded warrant to buy up to 3 million shares of common stock at an exercise price of $0.0001 per share, for an aggregate purchase price of $500 million, Corning said. Nvidia shares were up 5.2%, while Corning shares were up 13.8%.Uber Technologies (UBER) reported Q1 non-GAAP earnings Wednesday of $0.72 per share, up from $0.50 a year earlier and above the FactSet consensus of $0.69. First-quarter revenue was $13.2 billion, up from $11.53 billion a year ago and compared to the FactSet consensus of $13.28 billion. For Q2, Uber said it expects non-GAAP EPS of $0.78 to $0.82, compared to the FactSet consensus of $0.79. The company said it expects Q2 gross bookings of $56.25 billion to $57.75 billion, above the FactSet consensus of $56.17 billion. Uber shares were up 8.2%.Walt Disney (DIS) reported fiscal Q2 adjusted earnings Wednesday of $1.57 per diluted share, up from $1.45 a year earlier and above the FactSet consensus estimate of $1.49. Fiscal Q2 revenue was $25.17 billion, up from $23.62 billion a year ago and above the FactSet consensus of $24.87 billion. For fiscal 2026, the company said it expects adjusted EPS growth of about 12%, excluding the impact of the 53rd week. Disney shares were up more than 6%.IBM (IBM) said Wednesday it is working with Oracle (ORCL) to bring the power of its watsonx to Oracle Cloud Infrastructure, or OCI, in hopes of fueling "multi-agentic, AI-driven productivity and efficiency across the enterprise." Watsonx Orchestrate Ai agent offerings will be available on OCI in July, the company said. IBM shares were down 0.9%, while Oracle shares were up 1.9%.Price: $416.71, Change: $+61.45, Percent Change: +17.30%

Advanced Micro Devices Sales to Accelerate in Q2 From Unit and Average Selling Price Gains, Wedbush Says

Advanced Micro Devices' (AMD) sales are expected to accelerate in Q2 from a combination of unit and average selling price gains with demand attributable to compute racks powering AI, Wedbush said in a Wednesday research report.While management expects ramp for the MI450/455 GPUs in H2, the strength in CPUs offers somewhat insurance if GPU growth lags expectations, according to the note.Robust enterprise sales influenced by data center growth more than offsets expected weakness in the gaming segments, the firm said. The brokerage said it expects Q2, 2026, and 2027 EPS of $1.61, $6.95, and $12.33, respectively.The company's compute strength reinforces the view that AI infrastructure spending is accelerating faster-than-expected on agentic workloads, the brokerage stated.The brokerage said it reiterated its outperform rating on the stock and boosted its price target to $450 per share from $400.Price: $409.02, Change: $+53.76, Percent Change: +15.13%

Advanced Micro Devices Faces Expanding AI Exposure, BofA Says

Advanced Micro Devices (AMD) is facing expanding artificial intelligence exposure for its computer chips, BofA Securities said in a note Wednesday.The investment firm said AMD now represents about 6% of the AI total addressable market, and that figure is expected to grow toward over 10% by 2030.BofA highlighted the AMD increased its 2030 forecast for server central processing unit total addressable market to $120 billion from $60 billion previously on "greater emerging agentic AI demand for orchestration CPU."Meanwhile, the company has "additional 'gigawatt-scale' AI customer announcement potential" beyond OpenAI and Meta Platforms (META), the note said.After AMD's Q1 results call, BofA raised the company's 2026 and 2027 pro-forma EPS estimate by 9% each to $7.28 and $11.80, and it is forecasting the company's 2030 EPS potential at over $27, above its management's more than $20 target.BofA reiterated AMD's buy rating and lifted the company's price target to $450 from $310.AMD shares were rising past 15% in Wednesday morning trading.Price: $407.59, Change: $+52.33, Percent Change: +14.73%

Northland Securities Adjusts Advanced Micro Devices PT to $320 From $260

Advanced Micro Devices (AMD) has an average rating of Buy and mean price target of $410.23, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $412.06, Change: $+56.80, Percent Change: +15.99%

Melius Research Adjusts Advanced Micro Devices Price Target to $500 From $325

Advanced Micro Devices (AMD) has an average rating of Buy and mean price target of $410.23, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $409.07, Change: $+53.81, Percent Change: +15.15%