Key points
- AMD reports on Election Day, four days after an 11% drop
- Qualcomm and Arm report November 4 after falling about 10% on October 30
- Vistra and Oklo report November 6, the day of the October jobs report
AMD (AMD) reports third-quarter results on November 3, Election Day, four days after its shares fell 10.9% to $504.80 in a broad selloff in chip and AI stocks. AMD is the most valuable chipmaker reporting this week, and its results come two weeks before Nvidia (NVDA) reports on November 17.
Apple (AAPL) and Palantir (PLTR) open the week after the market closes on November 2, and Qualcomm (QCOM) and Arm (ARM) report on November 4. The Bureau of Labor Statistics releases the October jobs report at 8:30 a.m. ET on November 6.
On October 30, Qualcomm fell 11.1% to $164.79, Arm fell 10.0% to $205.97, and Palantir fell 6.3% to $184.11. The Nasdaq Composite dropped 2.9% that day, and Intel had its worst day since the 1970s.
What the companies told investors to expect
AMD forecast third-quarter revenue of about $13 billion, plus or minus $300 million. At the midpoint, that's about 41% growth from a year earlier. AMD expects a companywide adjusted gross margin of about 56%, compared with the 74% Nvidia forecast for its current quarter. AMD's data center revenue was $6.7 billion in its latest quarter, compared with Nvidia's $89.0 billion.
Palantir forecast third-quarter revenue of $2.160 billion to $2.164 billion and adjusted operating income of $1.292 billion to $1.296 billion, according to its August 3 release. Palantir also raised its full-year revenue forecast to $8.150 billion to $8.158 billion.
Qualcomm forecast fiscal fourth-quarter revenue of $9.7 billion to $10.5 billion and adjusted earnings of $2.05 to $2.25 a share. Arm forecast fiscal second-quarter revenue of $1.38 billion, plus or minus $50 million, and adjusted earnings of 47 cents a share, plus or minus 4 cents.
Apple doesn't include a forecast in its earnings release. Its report will be the first since Apple said on October 31 that it will launch Apple Intelligence in China in December. It will also be Apple's first earnings call under John Ternus, who became chief executive at the start of September, according to TechCrunch. Apple shares closed at $344.63 on October 30.
Other AI stocks reporting this week
These companies are also scheduled to report, according to Nasdaq's earnings calendar:
- November 3: Arista Networks (ANET), Super Micro Computer (SMCI), and Astera Labs (ALAB), after the close
- November 4: AppLovin (APP), after the close
- November 5: Cloudflare (NET), IonQ (IONQ), and NuScale Power (SMR), after the close
- November 6: Vistra (VST) and Oklo (OKLO), before the open
The three nuclear companies report days after the World Nuclear Association counted 79 reactors under construction worldwide, the most since 1986.
