Advanced Micro Devices (AMD) reported first-quarter earnings that exceeded expectations, with non-GAAP earnings per share of $0.96 beating the estimated $0.94 and revenue of $7.44 billion surpassing the forecasted $7.12 billion. The company's data center revenue grew 57% year-over-year, and client revenue increased 68%, although gaming revenue declined 30%. AMD's strong performance was driven by robust data center growth and a positive outlook for the second quarter, with revenue guidance between $7.1 billion and $7.7 billion. Despite a $700 million revenue headwind from China-related challenges, AMD's sales outlook of $7.4 billion for Q2 is 10% above Bank of America's forecast. Bank of America upgraded AMD's rating to Buy from Neutral and raised its price target to $120 from $105, citing multiple growth drivers. AMD's CEO acknowledged uncertainties related to tariffs and export controls but expressed confidence in continued investment in AI infrastructure and strong growth in the second half of 2025. Meanwhile, Super Micro Computer (SMCI) shares fell 5% after the company missed earnings and revenue estimates and issued weak guidance for the next quarter. In China, Semiconductor Manufacturing International Corp. (SMIC), the country's largest chipmaker, plans to invest more than $7 billion this year to expand capacity and market share despite ongoing tariff uncertainties. Qualcomm and MediaTek highlighted that U.S. tariffs are creating global market uncertainty and slowing growth but remain optimistic about strong demand for AI chips, particularly in high-end smartphones in fast-growing markets like India. Additionally, Bank of America upgraded Wynn Resorts (WYNN) and Honeywell International (HON) to Buy from Neutral, raising their price targets to $100 and $250 respectively, and initiated a Buy rating on First Solar (FSLR) with a $174 price target.