WS #16809
The Democratic sweep of the US Congress has fundamentally altered the near-term policy landscape, initially sparking a sell-off in growth stocks and tech equities on fears of regulatory restraints and tax hikes. However, Asian markets have since reversed course into a relief rally, pricing in the stability of divided government rather than extreme partisan gridlock or aggressive progressive legislation. This shift dampens the immediate bearish thesis for the MAG7 index but introduces longer-term uncertainty regarding infrastructure spending bills. AMD defied the broader post-election tech selloff, seeing its shares jump in after-hours trading following a report of Q3 revenue hitting $13.38 billion and a forward-looking statement from CEO Lisa Su projecting 80% growth in 2027. Analysts praised the print as one of the best of the season, suggesting that underlying AI accelerator demand remains resilient despite the political headwinds affecting the wider semiconductor index.
US Midterm Blue Tsunami
The Democratic sweep of the US Congress has fundamentally altered the near-term policy landscape, initially sparking a sell-off in growth stocks and tech equities on fears of regulatory restraints and tax hikes. However, Asian markets have since reversed course into a relief rally, pricing in the stability of divided government rather than extreme partisan gridlock or aggressive progressive legislation. This shift dampens the immediate bearish thesis for the MAG7 index but introduces longer-term uncertainty regarding infrastructure spending bills.
AMD defied the broader post-election tech selloff, seeing its shares jump in after-hours trading following a report of Q3 revenue hitting $13.38 billion and a forward-looking statement from CEO Lisa Su projecting 80% growth in 2027. Analysts praised the print as one of the best of the season, suggesting that underlying AI accelerator demand remains resilient despite the political headwinds affecting the wider semiconductor index.