Wall Street Roundup: Market turning lemons into limoncello
5/8/202616 min
Rally in AI infrastructure stocks (0:20) Tech stock valuations (3:40) Disney earnings (7:40) Layoff cycle (8:25)
Show Notes:
SA Investing Community weighs in on Iran war
Micron, AMD lead AI and chip stocks higher despite Middle East woes
Know When To Hold 'Em And When To Fold 'Em
Episode transcripts: seekingalpha.com/wsb
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Transcript preview
First 90 secondsBrian Stewart· Host0:00
[upbeat music] Brian Stewart, Seeking Alpha's Director of News, welcome back to another week of Wall Street Roundup. What do you got for us?
Speaker 1· Host0:17
So I was trying to think of a metaphor for this week, um, and, and the last couple weeks really. This week we had AMD report earnings. You had a major rally, especially in AI infrastructure stocks. Meanwhile, we saw the overhang, uh, about the Iran war. Um, there was some hope earlier in the week that seems to have fizzled a little bit, but still the market really, really, really wants to believe that, uh, that's gonna resolve itself positively in a relatively short period of time. So I was just thinking about the market, you know, has a habit of making... turning lemons into lemonade, right? So this week has basically turned lemons into Limoncello. You know, just raise a glass to the tech stocks even though we have this, um, Iran conflict hanging over us. Um, if we, if we dig into the numbers a little bit- I like the metaphor, by the way.
Brian Stewart· Host1:06
I like it. I like it.
Speaker 1· Host1:06
You do? Okay. I don't wanna chop it.
Brian Stewart· Host1:07
I like where you landed. I like where you landed. [laughs] Yeah.
Speaker 1· Host1:09
Appreciate it. Um, so AMD surged 18% on earnings, um, reached a new high. It's, it's at new highs today. It's, it's continued to push higher. It's now doubled year to date and is up 325% in the past year. Um, if you, if you scan through our analysts' response to the earnings, basically you have kind of a split.