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Crude tumbles 3.6% on a Saudi pipeline restart, easing yields and lifting chips, while the Fed prepares its first rate hike in nearly three years.
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Astera Labs dropped 16.5% in an AI sector sell-off despite having no debt and $1.25 billion in cash. The author recommends buying the dip, citing the company's recent launches of PCIe 7 Aries chips and Orion rack-scale design, along with upcoming Q3 earnings on November 3rd. However, the stock trades at high multiples and depends on a few large customers, making it volatile.
While Micron Technology has surged 350% over the past year, the article argues that three alternative memory stocks offer better value and growth prospects: SK Hynix delivers higher sequential growth and lower valuation, Sandisk shows faster expansion with long-term customer contracts, and Astera Labs provides exposure to AI infrastructure with accelerating guidance.
The SOX fell eight straight sessions for the first time since 2008. Cantor’s C.J. Muse says equipment is sold out as JPMorgan upgrades Intel.
Needham & Co. has revised its price target for Coherent Corp. shares, lowering it from $420 to $380.
The Nasdaq 100 gains 1.2% as chipmakers rebound and Tesla jumps on an upgrade, while Brazil's EWZ sinks 21.7% after Lula's win. Yields ease.