Market Overview - Goldman Sachs and Morgan Stanley warn of a potential 10 to 20% market correction over the next year or two, indicating that a pullback of 10 to 15% is a healthy pause rather than a crash [2] - Concerns arise regarding Bitcoin, which has fallen over 6% in one day and more than 9% over two days, with its price trending downward amid fears that the AI trade may be losing momentum [3] Cryptocurrency Insights - Bitcoin's price has recently dipped below $100,000, marking a significant sell-off, with historical comparisons to its performance in 2018 when it plunged 37% in November [3] Technology Sector - The technology and semiconductor sectors are under pressure, influenced by Wall Street CEOs' warnings about market corrections [4][5] - SK Hynix, a supplier of HBM products to Nvidia, has seen its shares rally over 200% this year but faced a decline after the Korean exchange issued an investment caution [6] Earnings Reports - Nova Nordisk is set to report earnings with expectations of EPS at 66 cents on revenue of $11.84 billion, amid a lawsuit from Pfizer regarding a $6.5 billion unsolicited bid [8][9] - McDonald's is also reporting earnings, with expectations of EPS at $3.33 on revenue of $7.09 billion, reflecting a 3% increase in both metrics [10] Market Sentiment and Economic Indicators - The Supreme Court will hear arguments regarding President Trump's tariffs, which could have significant implications for trade policies [12] - The upcoming ADP report is anticipated to provide insights into labor market risks, which are crucial for Federal Reserve considerations [14]

Financial Performance - AMD reported record Q3 2025 revenue of $9.2 billion, a 36% year-over-year increase[17] - The GAAP gross margin was 52%, up 2 percentage points year-over-year[21,29] - Non-GAAP gross margin was 54%, flat year-over-year[21,30] - GAAP diluted earnings per share (EPS) increased 60% year-over-year to $0.75[27,29] - Non-GAAP diluted EPS increased 30% year-over-year to $1.20[27,30] Segment Results - Data Center revenue reached $4.3 billion, a 22% year-over-year increase[31,34] - Client & Gaming segment revenue was $4.0 billion, up 73% year-over-year[31,36] - Embedded segment revenue was $857 million, down 8% year-over-year[31,37] Q4 2025 Outlook (Non-GAAP) - Revenue is expected to be approximately $9.6 billion, plus or minus $300 million[38] - Gross margin is projected to be around 54.5%[38]

Investor Relations Update As of November 4, 2025 Safe Harbor Statement Except for historical information contained herein, the matters set forth in this presentation contain forward-looking statements, including industry market projections; our revenue growth opportunities; our ability to fuel product and application diversification; our ability to maintain our leadership position in smartphone audio; our ability to increase HPMS content in smartphones; our ability to leverage our strength in audio and HPMS ...

[Chart courtesy of MarketWatch.com][Chart courtesy of MarketWatch.com]Moving the marketStocks stumbled out of the gate today, dragged down by some of the biggest names in artificial intelligence.Palantir took a 7% hit—even though it beat Wall Street’s Q3 expectations and offered strong guidance. The catch? Investors weren’t thrilled about the company’s lack of visibility for 2026, which left a sour taste.Oracle slipped over 1%, trimming its impressive 50% gain this year. AMD, which has more than doubled in ...

Core Insights - Astera Labs reported Q3 earnings that exceeded expectations, continuing its streak of outperformance, but the stock closed down 6.4% after initially rising in after-hours trading [3][5] Financial Performance - Revenue reached $230.6 million, surpassing the consensus estimate of $206.4 million by 11.7%, marking a 104% year-over-year increase and 20% sequential growth from Q2 [4][11] - Earnings per share (EPS) was $0.49, beating the estimate of $0.39 by $0.10, with a 113% year-over-year increase [4][11] - Operating income improved to $55.4 million from a loss of $8.9 million in the same quarter last year, representing a 723% increase [6][11] - Net income rose to $91.1 million from a loss of $7.6 million, a 1,300% increase [6][11] - Gross margin expanded to 76.2%, up 100 basis points year-over-year [6][11] Product and Market Dynamics - The Scorpio fabric switch portfolio, crucial for AI infrastructure connectivity, saw significant expansion with new platform design wins, becoming the fastest-growing product line in the company's history [7] - CEO Jitendra Mohan highlighted ongoing momentum in PCIe 6 and robust growth from Taurus Ethernet SCMs, indicating an accelerating AI infrastructure refresh cycle [8] Future Guidance - For Q4, management guided revenue between $245 million and $253 million, implying sequential growth of 6% to 10% at the midpoint, with gross margin expected to remain around 75% [9][10] - Non-GAAP EPS is projected to reach $0.51, suggesting sustained strength rather than a decline [9] Strategic Moves - Astera announced the acquisition of aiXscale Photonics, indicating a strategic bet on the importance of photonic interconnects for future AI infrastructure scaling [12] Market Reaction - The stock experienced volatility, opening down, peaking at a 6.7% gain, and ultimately closing down 6.4%, which may reflect profit-taking after a significant 280% increase from its 52-week low [12] - Analysts remain optimistic, with 14 out of 19 covering the stock rating it a buy or better, and a consensus price target of $189.11, indicating limited downside potential [13]

Uh Stacy, um AMD, obviously we we heard about the Open AI deal, a lot of excitement around that. What's going to get the most attention in the quarterly results. >> Yeah, you you bet.I actually think the setup for them looks pretty good. Um the core markets, PCs and servers should be should be pretty strong. Servers especially, you have Intel's sort of bizarre supply constraints as well, which which they may be benefiting from.And then on the AI side, you have to remember the last several quarters, the big ...

Uh Stacy, um AMD, obviously we we heard about the Open AI deal, a lot of excitement around that. What's going to get the most attention in the quarterly results. >> Yeah, you you bet.I actually think the setup for them looks pretty good. Um the core markets, PCs and servers should be should be pretty strong. Servers especially, you have Intel's sort of bizarre supply constraints as well, which which they may be benefiting from.And then on the AI side, you have to remember the last several quarters, the big ...

Paris-based semiconductor firm Sequans Communications has sold nearly 970 Bitcoin, about a third of its total holdings, in a bid to cut debt and stabilize its balance sheet, becoming the first publicly traded Bitcoin treasury company to offload its reserves amid a cooling crypto market. The company announced on Tuesday that the sale has funded the redemption of 50% of its outstanding convertible debt, thereby reducing liabilities from $189 million to $94.5 million. The transaction, valued at roughly $94. ...

Core Insights - Advanced Micro Devices (AMD) reported fiscal third-quarter results that surpassed Wall Street expectations, with a revenue increase of 36% year-over-year, reaching $9.25 billion [2][7] - The company anticipates fourth-quarter revenue of approximately $9.6 billion, indicating a 25% growth, which exceeds the consensus estimate of $9.15 billion [3] - AMD's stock has risen 107% year-to-date, significantly outperforming the Nasdaq's 21% increase [4] Financial Performance - Net income for the third quarter rose to $1.24 billion, or 75 cents per share, compared to $771 million, or 47 cents per share, from the previous year [2] - Client revenue reached $2.75 billion, up 46%, exceeding the consensus of $2.61 billion [6] - Revenue from gaming surged to $1.30 billion, a remarkable 181% increase, surpassing the expected $1.05 billion [6] Market Position and Partnerships - AMD is focusing on competing with Nvidia in the artificial intelligence processor market, with guidance excluding revenue from shipments of its Instinct MI308 chips to China [3] - A recent partnership with OpenAI could lead to the AI startup acquiring a 10% stake in AMD, with plans to deploy 6 gigawatts of AMD's Instinct GPUs over several years [4] - Oracle announced plans to deploy 50,000 AMD Instinct MI450 AI chips in its cloud services starting next year, indicating growing demand for AMD's AI solutions [5] Guidance and Expectations - AMD's adjusted gross margin for the fourth quarter is projected at 54.5%, aligning with market expectations [3] - The company will discuss its financial results and future outlook in a conference call with analysts [6]

Core Insights - The chip maker experienced significant increases in both profit and sales during the third quarter, driven by a deeper engagement in AI data centers and a rise in personal computer processor sales [1] Group 1: Financial Performance - The company reported steep gains in profit for the third quarter [1] - Sales also saw substantial growth, indicating strong market demand [1] Group 2: Market Engagement - The company is moving deeper into AI data centers, which is a key growth area [1] - There has been an increase in sales of personal computer processors, contributing to overall revenue growth [1]