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Nvidia rose 2.2% Tuesday to roughly $213.70, snapping its longest losing streak since 2022 — seven straight down sessions that shaved about 7% off the stock. Guidance calls for revenue between $92 billion and $93 billion, nearly double a year ago. Consensus price target sits at $315.59; results land after Wednesday's close.
Intuit posted adjusted EPS of $4.03 on revenue of $4.354 billion, topping consensus of $3.58 and $4.27 billion. But fiscal 2027 revenue growth guidance of just 9% to 10% — down from 14% in fiscal 2026 — sent shares down 7% to as much as 11% after hours, erasing roughly $6.9 billion in market value.
Raymond James upgraded AMD from Outperform to Strong Buy and raised its target from $565 to $641, sending shares up 4.91% to $479.18. Analyst Simon Leopold sees the AI server CPU market compounding at 44% annually to roughly $201 billion by 2030, and expects AMD to overtake Intel in CPUs by 2027.
New Street upgraded Micron to Buy with a $1,250 target, BMO initiated at Outperform with $1,300, and Bank of America kept MU a top pick at $1,550. The backdrop: HBM capacity sold out through 2026, fiscal Q3 revenue of $41.46 billion, and Q4 guidance near $50 billion with an 86% gross margin.
Doug Anmuth reiterated Overweight and a $240 price target versus a $135 prior close, citing the closed $60 billion Cursor acquisition — roughly $4 billion in annual recurring revenue and better training data for Grok. Shares rose about 3%. Watch the September 9-10 lockup expiry: roughly 370 million shares, about a 20% float increase.
Super Micro closed up roughly 9.4% at $38.46 after Taiwan's indictment named nine individuals rather than the corporate entities, clearing a liability overhang. A Cisco Secure AI Factory tie-up adding Supermicro rack-scale compute added fuel. Dell rode the same wave, up about 4%.
JPMorgan's Harlan Sur reiterated Overweight on Broadcom, arguing AI competition fears are overblown and that fiscal 2026 AI revenue could exceed $56 billion — growth north of 180% year over year. The offset: shares slipped below $400 earlier this month on Bank of America credit concerns tied to the AI XPV financing vehicle with Apollo and Blackstone.
Zoom fell more than 5% on soft guidance, and Adobe, ServiceNow and Atlassian all weakened alongside Intuit — two guidance disappointments turning into a sector-wide AI-disruption question. That comes just days after BofA raised targets across ten software names, including ServiceNow and Workday, arguing those same fears were fading.
Palantir traded down to about $172.71 from a $175.89 prior close, even as Truist Securities reiterated Buy with a $223 target. Roughly two dozen analysts have raised earnings estimates recently. Context matters: the stock is still up about 43% since its August 3 earnings report.
Anthropic filed a draft registration with the SEC on June 1 at a valuation around $965 billion, following a $65 billion round, with preliminary Q2 revenue above $11.5 billion and adjusted operating income turning positive. OpenAI filed confidentially on June 8 but has signaled it may wait until 2027 — meaning Anthropic could hit the tape first.
