# AMD falls 5% ahead of Tuesday earnings as Oracle surges on $553B AI cloud backlog, S&P -0.41% _Advanced Micro Devices fell 5.3% ahead of its Tuesday Q1 earnings report as HSBC warned the stock would give up gains, while Oracle surged 4.9% after Wedbush initiated coverage with an Outperform rating backed by a $553 billion AI cloud contract backlog._ **Published:** 2026-05-04 **Source:** https://www.startuphub.ai/ai-news/ai-stocks-daily/2026/ai-stocks-2026-05-04 --- **Advanced Micro Devices Inc. (NASDAQ: AMD) led chip names lower Monday, falling 5.3% to $341.54 ahead of Tuesday's first-quarter earnings report, while Oracle Corp. (NYSE: ORCL) surged 4.9% after Wedbush Securities initiated coverage with an Outperform rating and a $225 price target backed by a $553 billion AI and cloud contract backlog.** The S&P 500 slipped 0.41% to 7,200.75 and the Nasdaq Composite shed 0.19% to 25,067.80 as Middle East tensions escalated, with the United Arab Emirates confirming it had intercepted Iranian missiles, pushing West Texas Intermediate crude 4.4% higher to $106.42 a barrel. The PHLX Semiconductor Sector ETF (SOXX) fell 0.79% to $462.06, trimming a 34% one-month gain. What we track This recap analyzes the top 25 publicly-listed AI stocks selected by these criteria: **chips and chip equipment** ($NVDA, $AVGO, $AMD, $ARM, $INTC, $TSM, $ASML, $AMAT, $LRCX, $SMCI, $DELL); **hyperscalers and AI labs** ($MSFT, $GOOGL, $AMZN, $META, $ORCL, $CRM, $NOW); **pure-play AI and data infrastructure** ($PLTR, $SNOW, $MDB, $DDOG); **AI-adjacent security and platform** ($CRWD, $NET, $PANW); plus **$TSLA** for autonomy and **$BIDU** for the China-AI overhang. Macro reference: $SOXX (semis ETF), S&P 500, Nasdaq Composite. End-of-day prices via Yahoo Finance. ## Today's biggest movers | Ticker | Close | Day | 1mo | YTD | | --- | --- | --- | --- | --- | | $ORCL | $180.29 | +4.92% | +23.88% | -7.88% | | $DDOG | $146.69 | +4.38% | +25.91% | +9.66% | | $NET | $224.17 | +3.07% | +5.85% | +14.36% | | $SMCI | $27.92 | +3.06% | +26.62% | -9.82% | | $CRWD | $469.24 | +2.98% | +17.72% | +3.45% | | $AMD | $341.54 | -5.27% | +55.12% | +52.83% | | $INTC | $95.78 | -3.85% | +88.62% | +143.22% | | $ARM | $203.26 | -3.75% | +36.63% | +77.16% | | $ASML | $1,386.21 | -2.86% | +6.30% | +19.11% | | $AVGO | $416.50 | -1.13% | +32.46% | +19.81% | ## AMD falls 5% as HSBC flags earnings risk ahead of Tuesday report Advanced Micro Devices Inc. (NASDAQ: AMD) dropped 5.3% to $341.54 in the heaviest-volume chip selloff of the session, with 41.5 million shares changing hands. The selling followed a note from HSBC cautioning that AMD would likely "give up gains on a predictable earnings report," citing the stock's 55% one-month advance as having already priced in the consensus beat. AMD reports first-quarter 2026 results after the close on Tuesday, May 5, with Wall Street expecting earnings per share of $1.28, up 33% year over year, on revenue of $9.88 billion, a 33% increase from a year ago. Not all analysts share HSBC's caution. DA Davidson's Gil Luria upgraded AMD to Buy from Neutral on Friday and raised his price target to $375 from $220, a 70% jump in a single revision, after lifting his 2026 revenue estimate by $2 billion and his gross profit forecast by $1.5 billion above Street consensus. RBC Capital's Srini Pajjuri also raised his target to $325 from $230 while keeping a Hold rating. The divergence in analyst conviction reflects how far AMD has run and how much of the AI silicon buildout it must still prove to justify current levels. [AMD chart by TradingView](https://www.tradingview.com/symbols/NASDAQ-AMD/?aff_id=158908) ## Oracle surges 5% as Wedbush flags $553B AI cloud backlog Oracle Corp. (NYSE: ORCL) was the standout winner on Monday, climbing 4.9% to $180.29 and narrowing a year-to-date deficit to 7.9%. The catalyst was a Wedbush Securities initiation at Outperform with a $225 price target. Analyst Dan Ives argued that investors are mispricing Oracle's AI-focused cloud franchise, pointing to a $553 billion contracted backlog tied to AI and cloud agreements, including major deals with OpenAI and Nvidia Corp. Wedbush contends that Oracle's contract-backed spending model eliminates much of the demand uncertainty that weighs on earlier-stage cloud names. ORCL traded 31.2 million shares, more than double its 90-day average, signaling broad institutional participation in the move. Oracle has underperformed the broader AI software cohort on a year-to-date basis, a gap that Wedbush argues creates a relative value entry as hyperscaler AI infrastructure spending accelerates through 2026. [ORCL chart by TradingView](https://www.tradingview.com/symbols/NYSE-ORCL/?aff_id=158908) ## Datadog and Cloudflare build pre-earnings momentum Datadog Inc. (NASDAQ: DDOG) gained 4.4% to $146.69, crossing a key technical trendline ahead of its May 7 first-quarter earnings report. The options market has priced in a post-earnings move of plus or minus 15.6%, reflecting elevated uncertainty after a stretch of slower revenue growth guidance in late 2025. The consensus implies roughly 26% upside from current levels, though the bar has moved materially higher given the stock's 26% one-month advance. DDOG traded 6.7 million shares. Cloudflare Inc. (NYSE: NET) added 3.1% to $224.17 ahead of its own May 7 results. Of the 35 analysts covering the name, 22 rate it a Buy or Strong Buy, with an average 12-month target of $231.85, according to MarketBeat data. The stock trades at a demanding multiple, approximately 182 times forward earnings, a valuation that leaves limited room for a guidance miss. [DDOG chart by TradingView](https://www.tradingview.com/symbols/NASDAQ-DDOG/?aff_id=158908) ## ARM retreats 4% on Morgan Stanley downgrade and chip design rivalry Arm Holdings PLC (NASDAQ: ARM) fell 3.8% to $203.26 as investors trimmed exposure ahead of the company's fiscal fourth-quarter earnings on Wednesday, May 6. Morgan Stanley downgraded ARM to Equalweight on April 29, citing near-term risks tied to the company's push into chip manufacturing, a strategic expansion that the bank says complicates ARM's pure-play licensing model. Reports of a potential collaboration between Qualcomm Technologies Inc. and OpenAI to develop a custom chip architecture that bypasses ARM's instruction set added a competitive overhang to the session. Analysts project ARM Q4 revenue at $1.47 billion with EPS of $0.58. Even after Monday's decline, ARM has gained 77% year to date, and its fiscal year fourth-quarter setup is described by multiple analysts as "challenging" given the extent of expectations already embedded in the share price. [ARM chart by TradingView](https://www.tradingview.com/symbols/NASDAQ-ARM/?aff_id=158908) ## Notable but quieter Intel Corp. (NASDAQ: INTC) shed 3.9% to $95.78 in routine consolidation after an extraordinary run. INTC is up 143% year to date following its April 23 first-quarter beat, in which revenue of $13.6 billion crushed the $12.36 billion Wall Street estimate and non-GAAP EPS of $0.29 far exceeded the $0.01 consensus. Even after Monday's dip, Intel's market capitalization has passed $470 billion. ASML Holding N.V. (NASDAQ: ASML) declined 2.9% to $1,386.21. Net system sales to China fell to 19% of the total in the first quarter, down from 36% in the fourth quarter of 2025, as export controls from the United States and the Netherlands constricted the company's largest growth market. TSMC's decision to delay deployment of ASML's High-NA EUV machines until at least 2029 added a longer-dated demand concern, and the company's second-quarter guidance midpoint came in below analyst estimates. Super Micro Computer Inc. (NASDAQ: SMCI) rose 3.1% to $27.92 ahead of its Q3 earnings on Tuesday, May 5, with analysts projecting 169% revenue growth. The pre-earnings drift came despite a class-action lawsuit alleging SMCI sold $2.5 billion in servers to Chinese customers in violation of export controls and reports of a roughly $1.4 billion Oracle contract cancellation. CrowdStrike Holdings Inc. (NASDAQ: CRWD) gained 3.0% to $469.24, continuing a quiet recovery with no material catalyst cited in analyst notes reviewed Monday. ## What to watch tomorrow AMD reports first-quarter results after the close on Tuesday, May 5; the Street is at $1.28 EPS and $9.88 billion in revenue. Super Micro Computer also reports Q3 results Tuesday. ARM Holdings delivers fiscal Q4 figures Wednesday, May 6. Datadog and Cloudflare both report first-quarter results before the market opens Thursday, May 7. Nvidia Corp. (NASDAQ: NVDA) remains the highest-stakes event on the earnings calendar, with Q1 results scheduled for May 20. On the macro side, Federal Reserve meeting minutes are due Wednesday; any signal on the pace of rate cuts would affect the valuation math on high-multiple AI software names. Oil prices remain a wild card: WTI crude settled above $106 on Monday, a level not seen since early 2025, and any further Middle East escalation could compress risk appetite across the AI sector. Not investment advice. --- Original analysis from [startuphub.ai](https://www.startuphub.ai), the #1 AI startup directory.