Nasdaq Composite Live: Tech-Heavy Index Green, Despite AMD Miss

Markets are in the green early this morning.

Granted, Advanced Micro Devices’ second-quarter earnings miss is a drag.

However, the Nasdaq is still in the positive.

AMD Missed on Earnings. Some Analysts Still Raised their Price Targets.

AMD posted EPS of 48 cents, which missed estimates of 49 cents.

“AI business revenue declined year over year as U.S. export restrictions effectively eliminated MI308 sales to China, and we began transitioning to our next generation,” CEO Lisa Su said, as quoted by CNBC.

The good news is that the company’s revenue of $7.69 billion exceeded estimates of $7.42 billion.

With those numbers, analysts at Deutsche Bank still raised their price target on AMD to $150 from $130 a share. JPMorgan also raised its price target to $180 from $120, noting that “AMD is improving its competitiveness across CPU and GPU products with Ryzen, EPYC, and Radeon Vega platforms and is on track to improve its market share and drive meaningful revenue growth in the near term,” as quoted by CNBC.

Wells Fargo reiterated its overweight rating with a $185 price target. Barclays also reiterated its overweight rating, raising its price target to $200 from $130. Bank of America still has a buy rating and its $200 price target. And UBS reiterated its buy rating with a $210 price target.

Super Micro Computer is Down on an Earnings Miss

Shares of Super Micro Computer are down about 17% in premarket.

All after the company missed estimates. EPS of 41 cents missed by three cents. Revenue of $5.8 billion, up 9.2% year over year, missed by $110 million.

Making things worse, it lowered guidance. As reported by Seeking Alpha, “The memory maker expects a first quarter fiscal 2026 adjusted EPS ranging from $0.40 to $0.52, with a midpoint of $0.46, much less than the estimate of $0.59. The company expects net sales ranging from $6B to $7B, with a midpoint of $6.5B, less than the estimate of $6.59B.”

Markets are also digesting new tariff threats

President Donald Trump just said he will unveil new tariffs on semiconductors and chips over the next week or so.

“We’re going to be announcing on semiconductors and chips, which is a separate category, because we want them made in the United States,” Trump said during an interview on CNBC.

The President also said pharmaceutical tariffs could reach 250%.

Reportedly, he will impose a small tariff on pharmaceuticals. Later, he could raise it to between 150% and 250%. All to incentivize pharmaceutical companies to move their manufacturing businesses to the U.S.

In addition, Trump sent letters to “17 drug makers calling on them to commit to steps to lower U.S. drug prices by Sept. 29. That includes agreeing to provide their full portfolio of existing medicines at the lowest price offered in other developed nations to every single Medicaid patient, among other steps,” as also noted by CNBC.

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