Apple shares slide after the iPhone maker's guidance fails to meet investors' high expectations. The article also covers several other stocks that help explain today's market moves.
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Apple and Palantir are scheduled to report quarterly earnings after the market closes on Monday.
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The article previews three companies reporting results this week: AMD, Apple and MercadoLibre. AMD is expected to report fiscal third-quarter revenue up 42% to $13 billion and earnings per share up 60%, but its valuation is steep at 66 times this year's adjusted earnings target and 32 times for 2027, and its shares fell 17% last month. Apple's fourth-quarter revenue is expected to rise 11% to $113 billion, with earnings per share up a more modest 7%, and guidance will be closely watched. MercadoLibre is trading 19% lower in 2026 after Brazilian stocks sold off following the country's election, even though it is growing faster than it has in years.
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In an NYSE Live interview, Jay Woods, Chief Market Strategist at Freedom Capital Markets, argues that elections often generate headlines and investor anxiety, but long-term stock performance is driven more by corporate earnings, economic growth and business fundamentals than by political outcomes. He says markets have often posted positive returns in the months after midterm elections as uncertainty fades. In his view, the recent tech-stock pullback mainly reflects profit-taking and portfolio rotation rather than weaker fundamentals. The discussion also covers earnings season, sector rotation, inflation, interest rates and the 2027 outlook, and suggests investors focused on long-term fundamentals may be better positioned than those reacting to political headlines.
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Super Micro Computer shares rose 4% to $31.73 as AI server stocks rebounded from a steep one-month decline, ahead of results due on November 3, though the company has not confirmed the timing. On November 3, Super Micro announced a collaboration with SambaNova to build inference racks pairing SN50 chips with NVIDIA GPUs. Preliminary September-quarter revenue is $18.5 billion to $19.5 billion, above prior guidance of $14.5 billion to $15.5 billion, but gross margin guidance of 10.4% to 10.8% is below the 17.6% adjusted margin of the prior quarter. The company also faces export-control issues, including charges against several senior employees for allegedly smuggling NVIDIA AI servers to China, and an independent board review of certain transactions. Hewlett Packard Enterprise and Dell rose 6% and 5%, but their broader product mix differs from Super Micro's AI-focused model.
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The author has added to Taiwan Semiconductor (TSM) after the stock fell 15.69% over the past month to 398.61 USD, arguing that every advanced AI chip is made at TSMC's fabs. Third-quarter revenue reached 46.72 billion USD, up 41.2% in USD terms, and management raised its 2026 growth outlook to about 44%. Gross margin was 66.4%, free cash flow 14.90 billion USD, and the quarterly dividend rose from NT$6.00 to NT$7.00. The author skips NVIDIA, trading at about 41 times earnings, and Intel, whose foundry segment posted a 1.85 billion USD operating loss in Q3. The main risks cited are cross-strait tensions over Taiwan and overseas expansion costs that dilute margins.
- Why Intel Stock Collapsed 23.4% Last Month
Intel shares fell 23.4% in October, according to S&P Global Market Intelligence, and are now down over 50% from their highs. The article attributes the slide mainly to weak PC demand, where revenue fell 5% last quarter and guidance points to more weakness amid rising chip costs. The data center and AI segment grew 78% to 7.3 billion USD, while the foundry business rose 58% to 6.7 billion USD but still loses over 1 billion USD per quarter, short of what investors expect. With a market cap of 329 billion USD and trailing revenue of 60 billion USD (P/S 5.3), the author finds it hard to justify owning the stock at present.
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