Nasdaq Composite Live: Tech-Heavy Index Pops on Earnings

The Nasdaq is up another 88 points this morning.

That’s thanks in part to blowout earnings from Palantir, which just posted EPS of 16 cents, beating by two cents. Revenue of $1 billion, up 47.5% year over year, beat by $60.53 million.

CFO David Glazer stated, “We had an unprecedented second quarter, surpassing $1 million of revenue in the quarter for the first time and delivering our highest Rule of 40 score ever of 94. Q2 revenue growth accelerated to 48% year-over-year, exceeding the high end of our prior guidance by nearly 1,000 basis points,” as quoted by Seeking Alpha.

The company raised its revenue guidance to between $4.142 billion and $4.15 billion. It also raised its U.S. commercial revenue guidance to $1.302 billion, which is growth of about 85%.

Helping, Bank of America just reiterated its buy rating on PLTR with a price target of $180. The firm sees Palantir as a beneficiary of rapidly growing demand for AI in commercial and government-end markets.

With that, shares of PLTR are up about $12.15 in pre-market.

Waiting on Earnings from Advanced Micro Devices 

The company will release its fiscal second quarter 2025 financial results on Tuesday, Aug. 5, 2025, after the market close. Management will conduct a conference call to discuss these results at 5:00 p.m. EDT / 2:00 p.m. PDT.

As we wait for that earnings report, we do expect the stock to continue rising. All on the anticipation of solid earnings and guidance. AMD is up about $2 in premarket to $178.67.

From here, we’d like to see AMD test $200.

Bernstein Reiterated an Outperform Rating on Oracle 

Analysts at Bernstein just reiterated an outperform rating on Oracle, raising its price target to $308 from $269 a share. “We expect Oracle’s growth to accelerate for the next few years; revenue and operating profit growth will accelerate, and once growth slows FCF margins will rebound and the value created for investors will be substantial,” said the firm, as quoted by CNBC.

Morgan Stanley just reiterated an overweight rating on Nvidia, believing the company is a beneficiary as AI capex remains strong with tech giants.

Loop analysts just reiterated a buy rating on Meta Platforms, noting that META still has plenty more room to run. “We think Meta’s user reach and frequency, ability to invest, and management’s execution track record will drive the stock’s earnings multiple toward the other mega-cap tech elite. We are raising estimates and increasing our PT to $980 from $888 previous while keeping our target valuation unchanged at 30X 2026 GAAP earnings, plus cash,” as quoted by CNBC.

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