AMD AMD

AMD AMD Sandisk SpaceX all beat earnings and all three got hammered. Here's your market update for August 5th, 2026. This earnings season has been a huge success. 86% of S&P 500 companies have beat their earnings estimates and by an average of 27%, making this one of the best quarters in years. With hyperscalers like Google, Amazon and Microsoft doing a lot of the heavy lifting. Larry Fink, the CEO of BlackRock, recently went on tape saying he's very bullish on the markets over the next 12 months, pointing to tech driven productivity and margin expansion. In other words, companies that are adopting AI are growing their revenue, becoming leaner and more profitable. However, beating expectations doesn't always translate to higher stock prices. AMD beat Q2 2026 estimates, stock reverses after hours. AMD beat on revenue and earnings per share and guided Q3 higher than consensus, but fell about 7% despite huge growth. It's still one of the most expensive semiconductor stock trading at over 150 times trailing earnings, beating earnings just wasn't big enough for a stock that's already up 140% this year. Sandisk tells a similar story. Both revenue and earnings per share are well ahead, but they guided a light next quarter and the stock is down 7% in after hours. SpaceX shares sink after first earnings report reveals huge AI spending plans. SpaceX had their first ever earnings report yesterday, beating on revenue with $7.8 billion, up 92%, but the stock closed down 13.6% in after hours. Unfortunately, I think it's going a lot lower. When SpaceX IPO'd, only about 4% of shares outstanding were available for trading. This caused a lot of investors to pile into a very small sliver of the company, creating an artificially high cap. Tomorrow, 900 million shares unlock and early employees will unlock more than double the available float. It's not a matter of whether these insiders believe in the future of SpaceX, these people have been holding on these positions for years. They're going to take profits and diversify their holdings. I think there will be a time to buy, just not today. Lastly, Gold broke out of its six month downtrend. This is after a week jobs report, which cut the odds of a September rate hike. China's Gold ETFs rack up 14 days of inflows. The longest streak of additions since one ending in March. So China is buying the dip. This is not financial advice.