AMD Surges on 38% Q1 Revenue Growth as Iran Truce Hopes Boost Futures

Equity futures jumped on May 6 amid Axios reports of a U.S.-Iran memorandum of understanding nearing, sharply dropping oil prices and igniting a risk-on rebound. AMD rallied after Q1 earnings revealed 38% year-over-year revenue growth, surpassing prior guidance of ~$9.8bn (±$300m) and shifting focus to AI-driven semiconductor strength alongside SMCI's surge. This followed May 5's tensions, with U.S.-Iran jitters lifting Brent to $113.56/barrel after a 0.8% dip, AMD shares down 5.27% to $341.54, and robust S&P 500 Q1 profit forecasts of ~28% growth providing underlying support.