AI-related earnings reported mixed results, with AMD delivering the strongest set of numbers, SMCI missing on revenue but issuing upbeat guidance, and Navitas showing modest growth. Market focus now shifts to whether the Nasdaq-100 can hold any gap up, or whether prices fade after the open.<\/p>\n
AMD reported revenue of about $10.3B and non-GAAP EPS of $1.37. It guided Q2 revenue to about $11.2B \u00b1 $300M and a non-GAAP gross margin of around 56%, with Data Centre revenue up 57% year on year.<\/p>\n
SMCI reported a beat on EPS but a miss on revenue. It guided Q4 revenue to $11.0B\u2013$12.5B and non-GAAP EPS to $0.65\u2013$0.79.<\/p>\n
Navitas reported revenue up 18% sequentially to $8.6M. It guided Q2 revenue to about $10.0M \u00b1 $0.5M.<\/p>\n
The Nasdaq-100 closed at 28,015, with technical levels cited at 28,200, 27,700, 27,592\u201327,822, and further supports around 27.3K, 27K, and 26.4K. Two cited exhaustion signals were a trendline near 28,200 and bearish divergence on hourly oscillators, including Stochastic RSI.<\/p>\n
The recent AI earnings confirm the rally has legs, but we must be selective. AMD\u2019s results were the strongest signal, showing that the AI boom is broad enough to create more than one clear winner. As of May 2026, industry reports show data center capital expenditure is up 35% year-over-year, which directly supports the growth narrative that sent AMD shares flying.<\/p>\n
For AMD, the powerful move past its implied earnings volatility suggests this is more than just a short-term reaction. We saw a similar pattern in early 2025, where a strong earnings beat led to a sustained rally over the following weeks. Traders with long call positions might consider taking partial profits around the $420 to $426 resistance zone, but the underlying trend remains strongly bullish.<\/p>\n
SMCI\u2019s situation is more about momentum than fundamentals, as its strong guidance overshadowed a weak revenue report. The options market reflects this, with implied volatility for weekly options remaining elevated, suggesting traders are positioned for sharp moves around the key $30.50 level. If that support holds into Friday’s expiration, it could trigger a gamma squeeze and push the price higher.<\/p>\n
While SMCI is a momentum play, Navitas is still a story stock stuck in a range. This makes it a good candidate for range-bound derivative strategies, such as selling iron condors with strikes outside the $14 to $20 channel. The growth in its high-power markets is a positive sign, but until price confirms a breakout with volume, we should avoid directional bets.<\/p>\n
The Nasdaq-100 now faces a critical test, as it is showing signs of exhaustion. The CBOE Volatility Index (VIX) is currently trading near 13, a low we haven’t seen since the market melt-up in late 2025, which indicates high levels of complacency. This makes the index vulnerable to a “gap-up-and-fade” if buyers don’t show up to support a higher open.<\/p>\n
Our focus should be on the 28,200 midline level in the Nasdaq-100 futures. A failure to hold this area after the cash market opens would be a signal to consider buying short-dated puts or selling call spreads as a hedge. Conversely, if the market absorbs the early selling and builds support above that level, it would confirm that the AI-driven rally has further to run.<\/p>\n
A decisive break below the rising channel’s support around 27,700 would be the first major warning sign for the broader market. This would imply that even stellar news from the AI sector is already priced in, a significant change from the market character we saw throughout 2025. In that scenario, we would look to lower support levels around 27,300 for the next battle between buyers and sellers.<\/p>\n
Create your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" AMD led AI earnings; SMCI missed revenue but guided higher; Navitas grew, as Nasdaq-100 gap-up risks fade.<\/p>\n","protected":false},"author":38,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[46],"tags":[],"class_list":["post-46752","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":[],"aioseo_notices":[],"featured_image_src":null,"featured_image_src_square":null,"author_info":{"display_name":"josephine","author_link":"https:\/\/www.vtmarketsglobal.com\/en\/author\/josephine\/"},"_links":{"self":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts\/46752","targetHints":{"allow":["GET","POST","PUT","PATCH","DELETE"]}}],"collection":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/users\/38"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/comments?post=46752"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/posts\/46752\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/media?parent=46752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/categories?post=46752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarketsglobal.com\/en\/wp-json\/wp\/v2\/tags?post=46752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}