Core Viewpoint - US stocks experienced minimal changes as investors faced renewed valuation concerns related to the artificial intelligence sector, following mixed quarterly results from several leading technology companies [1] Group 1: Market Performance - US stocks showed little movement on Wednesday, indicating a cautious approach from investors amid ongoing valuation concerns [1] Group 2: Sector Focus - The artificial intelligence trade is under scrutiny as investors reassess valuations in light of recent earnings reports from key players in the technology sector [1]

Market Overview - On November 5, the three major U.S. stock indices opened mixed, with the Dow Jones Industrial Average down 0.01%, the S&P 500 down 0.02%, and the Nasdaq Composite up 0.06% [1] - Year-to-date performance shows the Dow Jones up 10.66%, Nasdaq up 20.99%, and S&P 500 up 15.10% [2] Sector Performance - Technology stocks exhibited mixed results, with Micron Technology rising over 2% and Tesla increasing more than 1%, while Advanced Micro Devices (AMD) fell over 2% and Super Micro Computer dropped more than 6% [1] - Chinese concept stocks mostly saw gains, with Canadian Solar (阿特斯太阳能) up over 12% and Huya (虎牙) rising more than 3% [1]

Core Viewpoint - Morgan Stanley's research report indicates that AMD's third-quarter performance largely met expectations, with particularly strong results in the gaming segment [1] Group 1: Business Performance - The gaming business showed exceptional strength during the third quarter [1] - The server market also performed robustly, with the company continuing to drive growth in the PC sector and expanding its market share in the server market [1] - The embedded business is experiencing a cyclical recovery, with management stating that this segment will see growth next year [1] Group 2: AI and Competitive Landscape - In the AI sector, the company's progress met expectations, recovering year-on-year growth after a setback in the first half of the year [1] - However, AMD's performance in AI remains relatively subdued compared to competitors, with NVIDIA and Broadcom's ASIC business growth rates significantly outpacing AMD [1] Group 3: Financial Estimates - The estimated revenue for the December quarter is $9.644 billion, with a non-GAAP gross margin of 54.7% and an operating margin of 25.7% [1] - Earnings per share are projected to be $1.32 [1] - The target price has been raised from $246 to $260, maintaining a "market perform" rating [1]

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting competent advisors before making any financial decisions, particularly in the context of investments and trading [1]. Group 1 - The website provides general news, personal analysis, and third-party content intended for educational and research purposes [1]. - It explicitly states that the information should not be interpreted as recommendations or advice for investment actions [1]. - The content is not tailored to individual financial situations or needs, highlighting the necessity for users to apply their own discretion [1]. Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1]. - Users are encouraged to perform their own research and understand the risks involved before investing in any financial instruments [1].

Core Insights - Advanced Micro Devices, Inc. (AMD) is a prominent semiconductor company recognized for its high-performance computing and graphics technologies, competing with major players like Intel and Nvidia [1] - UBS has maintained a "Buy" rating for AMD and raised its price target to $300, with the stock currently trading at $250.05 [1][5] Financial Performance - AMD reported a strong third-quarter performance in 2025, with revenue and adjusted earnings per share (EPS) exceeding Wall Street's expectations, alongside a record free cash flow of $1.53 billion, representing a 208% year-over-year increase [2][5] - The company's guidance for fourth-quarter revenue surpassed analyst consensus estimates, indicating robust financial health [3] Market Reaction - Despite the strong financial results, AMD's shares fell by 3.9% in after-hours trading, influenced by broader market concerns regarding high valuations in the AI sector [2][3] - Hedge fund manager Michael Burry's bearish positions on AI-focused companies, including Nvidia and Palantir Technologies, likely affected AMD's stock performance [3] Stock Performance - AMD's current stock price is $250.05, reflecting a decrease of 3.70% or $9.60, with a trading volume of 53,013,839 shares on the NASDAQ exchange [4] - Over the past year, AMD's stock has fluctuated between a high of $267.08 and a low of $76.48, with a market capitalization of approximately $405.79 billion [4]

瑞银将AMD目标价从265美元上调至300美元。 来源：滚动播报 ...

Market Overview - Following a sell-off, stocks are expected to see further downside in early trading, with S&P 500 futures down by 0.1 percent [1] - Concerns about valuations and a potential artificial intelligence bubble are contributing to weakness on Wall Street [1] Company Performance - Advanced Micro Devices (AMD) shares are down by 2.5 percent in pre-market trading despite better-than-expected third quarter results, as investors were disappointed by fourth quarter margin guidance [2] - Super Micro Computer (SMCI) shares are plunging by 7.6 percent after reporting fiscal first quarter results that missed expectations [2] - Arista Networks (ANET) is experiencing substantial pre-market weakness despite exceeding analyst estimates for third quarter results [3] Employment Data - The ADP report indicates that private sector employment in the U.S. rebounded by 42,000 jobs in October, following a revised loss of 29,000 jobs in September, surpassing economists' expectations of a 25,000 job increase [4] Economic Indicators - The Institute for Supply Management is set to release its report on service sector activity, with the services PMI expected to rise to 50.8 in October from 50.0 in September, indicating growth [5] Global Market Trends - Stock markets in the Asia-Pacific region mostly moved lower, with Japan's Nikkei 225 Index down by 2.5 percent and South Korea's Kospi down by 2.9 percent [7] - European markets are showing mixed performance, with the U.K.'s FTSE 100 Index up by 0.2 percent, while the French CAC 40 Index and the German DAX Index are down by 0.1 percent and 0.3 percent, respectively [7] Commodity Prices - Crude oil futures are slipping to $60.18 a barrel, while gold is trading at $3,987.10, up $26.60 from the previous session [8]

Core Points - U.S. stock futures are lower, with Dow futures falling over 50 points [1] - Super Micro Computer Inc reported disappointing first-quarter results, with earnings of 35 cents per share, missing the consensus estimate of 40 cents, and revenue of $5.01 billion, below the expected $5.99 billion [2] - Super Micro's revenue decreased from $5.93 billion in the same period last year [2] - The company's shares fell 9.2% to $43.12 in pre-market trading [2] Company-Specific Movements - Biohaven Ltd experienced a significant drop of 46.2% to $7.51 after receiving an FDA Complete Response Letter for VYGLXIA [4] - Trex Company Inc declined 31.9% to $32.02 following worse-than-expected third-quarter results and lowered FY25 sales guidance [4] - Soleno Therapeutics Inc fell 22.2% to $49.65 after reporting third-quarter results [4] - Axon Enterprise Inc's shares dropped 19.6% to $567.50 after mixed third-quarter results and an acquisition announcement [4] - Pinterest Inc dipped 18.8% to $26.69 after posting disappointing third-quarter earnings [4] - SSR Mining Inc fell 17.5% to $17.90 after its third-quarter results [4] - Uniqure NV's shares decreased by 15.8% to $25.61 after a prior gain [4] - Clover Health Investments Corp fell 15.5% to $2.97 after mixed third-quarter results [4] - Upstart Holdings Inc declined 15.3% to $39.15 after mixed results and lowered FY25 guidance [4] - Corsair Gaming Inc fell 12.4% to $6.59 following worse-than-expected third-quarter results [4] - Advanced Micro Devices, Inc. declined 5% to $237.80 despite reporting better-than-expected third-quarter results and projecting fourth-quarter revenue of approximately $9.6 billion [4]

Market Overview - The S&P 500 is currently only 2% below record highs, indicating a strong market performance recently [1] - The S&P 500 has risen 15% year-to-date, with November historically being a strong month for the market [2] Concentration Risk - The S&P 500 is heavily concentrated, with 40% of its value derived from the top 10 companies, raising concerns about concentration risk [2] - Small-cap stocks have shown weakness recently, while the equal-weight S&P 500 index is lagging behind [4] AI and Market Dynamics - There are concerns regarding the sustainability of the AI sector's growth, with potential pullbacks in AI infrastructure spending affecting market performance [3] - The overall market is being led by a few key names, which may lead to profit-taking as valuations become elevated [5][10] AMD Performance - AMD reported strong earnings, beating EPS expectations of $1.20 with $1.17 and raising revenue guidance to a midpoint of $9.6 billion [7] - The gaming division generated $1.3 billion, exceeding expectations, while the data center revenue increased over 22% to $4.3 billion [9] - Despite positive results, concerns about margins not meeting expectations and elevated valuations may lead to profit-taking [8][10] Analyst Sentiment on AMD - Analysts have raised their price targets for AMD, with Rosenblatt increasing it to $300 and Stifel raising it to $280, indicating continued confidence in the stock [11] AET Performance - AET is under pressure due to lighter-than-expected guidance despite a 40% increase in stock price this year [12] - Earnings rose 25% to $0.75, and revenue climbed 27% to $2.308 billion, but the guidance for Q4 revenue is in line with consensus, which may be a concern [13][14]

[Music] Hello and welcome to Morning Brief Market Sunrise. I'm Raman Carmali live from Yahoo Finance Studios in London. It's Wednesday, 5th November.Coming up on the show, global stocks continue to slide after Wall Street's tech selloff. The current government shutdown is now the longest on record. And New York has a new mayor.>> This is not only how we stop Trump, it's how we stop the next one. So, Donald Trump, since I know you're watching, I have four words for you. Turn the volume up.[Music] Well, the f ...