Bloomberg Television10 min
AMD Surges 13% as Wall Street Revives AI Chip Trade | Closing Bell
Vonnie Quinn, Scarlet Fu, Carol Massar, Tim Stenovec, Vani
Earnings Call, Press Conference, Conference Presentation
- Wall Street is anticipated to re-enter the AI trade with significant share accumulation, though market observers note that concentrated positioning and elevated expectations leave risks intact despite views that recent tech sell-offs represent a reset rather than a structural downturn.
- In Washington, investors expect a tonal shift and potential impeachment articles against the defense secretary that could accelerate an end to the conflict, while the upcoming CPI print is viewed as the final inflation indicator before the Federal Reserve's early December decision where another rate hike is widely projected.
- Skydance forecasts a 5% overall revenue increase driven by streaming and studio gains offsetting TV network declines, though it expects Q4 studio revenue growth to slow with a $200 million profit impact versus prior expectations, and plans to bundle HBO Max and Paramount starting October 6.
- Warner Bros. Discovery anticipates near-term underperformance in its film slate, Paramount Plus, and HBO Max while pursuing $6 billion in cost cuts over three years, primarily from real estate, marketing, and technology sectors.
- Lucid Group projects liquidity sufficient to fund operations through the fourth quarter of 2027 following a $1.75 billion loan boost from the Saudi Public Investment Fund.
- Hims & Hers Health provides Q4 revenue guidance between $875 million and $895 million, while Rocket Labs expects Q4 revenue between $270 million and $290 million with adjusted gross margins ranging from 39% to 41%.
- Oppenheimer has set a price target of $600 for AMD, implying a 34% increase from the current trading price.
- A broad wave of dip buying is currently supporting stocks following last week's technology sell-off and volatility.