👉 Democrats Win Control of Both Chambers of Congress

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AMD reported a record quarter as accelerating demand for its EPYC processors and Instinct GPUs pushed revenue up 45% YoY to $13.4 billion. Operating income more than doubled as the company continued benefiting from a richer Data Center mix and significant operating leverage.

Data Center was the overwhelming growth engine, with revenue increasing 97% to a record $8.5 billion and now representing roughly 64% of total company sales. AMD began volume shipments of its MI450 Series GPUs and brought the first Helios rack-scale systems online for customers including Anthropic, Meta, Microsoft, OpenAI and Oracle.

Elsewhere, Client revenue increased 7% to $2.9 billion behind Ryzen mobile processors, while Gaming revenue declined 40% to $773.0 million as lower semi-custom sales reflected the maturing console cycle. Embedded revenue increased 29% to $1.1 billion, marking its fourth consecutive quarter of accelerating growth across aerospace and defense, automotive, communications and industrial customers.

Management emphasized that Helios is only beginning to ramp. Data Center revenue is expected to grow roughly 50% sequentially next quarter, when AMD expects its Data Center AI business to surpass its server business for the first time. Looking into 2027, management now expects total company revenue to grow more than 80%, with Data Center representing more than 80% of sales as server revenue doubles and AI revenue grows even faster.

Looking ahead, management expects fourth-quarter revenue of approximately $17.0 billion, representing 66% YoY growth at the midpoint, alongside a non-GAAP gross margin of approximately 55%. AMD also expects full-year 2026 Data Center revenue to more than double from 2025 as Helios deployments and EPYC demand continue scaling.

Long AMD.

Apple reported a record September quarter as strength across iPhone, Mac and Services pushed revenue up 12% YoY to $114.5 billion. Net income reached a September-quarter record of $30.71 billion, while gross margin increased to 47.9%.

iPhone remained the largest growth engine, with revenue increasing 17% to a September-quarter record of $57.6 billion despite supply constraints and foreign-exchange headwinds. Mac revenue jumped 24% to $10.8 billion, while iPad declined 10% to $6.2 billion and Wearables, Home and Accessories fell 8% to $8.3 billion.

Services reached another all-time high, with revenue increasing 10% to $31.6 billion behind record performance across video, cloud services, payments and advertising. Apple's installed base also surpassed 2.5 billion active devices, reaching an all-time high across every major product category and geographic segment.

Management highlighted a significant recovery in Greater China, where revenue increased 21% YoY to a quarterly record of $17.5 billion behind strong iPhone and Mac demand. The executive team also focused heavily on Siri AI, which launched in beta for U.S. English users in September and has since expanded into additional languages. Management sees AI as both a potential upgrade driver across Apple's hardware ecosystem and a longer-term opportunity across Services and third-party applications.

Looking ahead, management expects December-quarter revenue to increase between 7% and 10% YoY, which would make it the highest-revenue quarter in company history. Services revenue is expected to grow between 8% and 9%, while gross margin is expected between 45% and 46% as unprecedented memory-cost inflation, supply constraints and the continued Siri AI rollout pressure near-term margins.

Long AAPL.

Palantir reported another historic quarter as accelerating demand for its AI software pushed revenue up 96% YoY to $2.3 billion, marking the first time quarterly revenue has exceeded $2.0 billion. GAAP operating income surpassed $1.0 billion for the first time while adjusted operating margin reached 62%, pushing the company’s Rule of 40 score to an incredible 158%.

U.S. Commercial remained the standout, with revenue increasing 148% to $984.0 million and surpassing U.S. Government revenue for the first time in company history. U.S. Government revenue still nearly doubled, increasing 96% to $953.0 million, while International Commercial grew 21% to $184.0 million and International Government increased 31% to $192.0 million.

Customer expansion also remained extremely strong. Net dollar retention climbed to 165%, while Palantir closed 212 deals worth at least $1.0 million, including 107 deals above $5.0 million and 64 deals above $10.0 million. Total remaining deal value reached $13.4 billion, an increase of 55% YoY, while U.S. Commercial customer count increased 29% to 686.

Management focused heavily on Sovereign AI as the next major driver of enterprise demand. The company signed multiple eight-figure Sovereign AI contracts during the quarter despite many of those initial agreements carrying shorter-than-normal durations, with management expecting both contract size and duration to increase as customers expand deployments. The executive team also highlighted that the U.S. business is now growing at an extraordinary 119% YoY, with commercial adoption increasingly broadening beyond Palantir’s historically government-heavy customer base.

Looking ahead, management expects fourth-quarter revenue of $2.6 billion. Palantir raised full-year revenue guidance to $8.5 billion, representing approximately 91% growth and up from its previous outlook of roughly 82% growth. The company also raised full-year U.S. Commercial revenue guidance to more than $3.6 billion, representing at least 143% growth.

Long PLTR.

“Tonight’s results are a wake-up call for corporate special interests and billionaires who have been rigging the economy.”