Arm Holdings plc architects, develops, and licenses central processing unit products and related technologies for semiconductor companies and original equipment manufacturers rely on to develop products. The company is involved in the licensing, marketing, research, and development of microprocessors, systems intellectual property (IPs), graphics processing units, physical IP and associated systems IPs, software, tools, and other related services. It also offers system IP products, including memory controller IP, interconnect IP, and other on-chip peripheral components; and compute platforms for a range of devices and applications. The company's products are used in various markets, such as automotive, computing infrastructure, consumer technologies, and Internet of things. It operates in the United States, the People's Republic of China, Taiwan, the Republic of Korea, and internationally. The company was founded in 1990 and is headquartered in Cambridge, the United Kingdom. Arm Holdings plc operates as a subsidiary of Kronos II LLC.

Arm Holdings plc

Сильный индекс, значительно вырос. Быки резко укрепили уверенность в своих позициях.

Strong index, significantly up. Bulls sharply strengthened confidence in their positions.

Сильный индекс, без изменений. Рынок на стороне быков.

Strong index, flat. The market is on the bulls' side.

Сильный индекс, значительно упал. Отток средств из лонгов резко увеличился и находится на высоком уровне.

Strong index, significantly down. The outflow of funds from longs has increased sharply and is at a high level.

Key Points
Nvidia and Broadcom are both poised to see strong revenue growth driven by insatiable demand for AI compute power.
AMD and Arm Holdings both have big opportunities with CPUs and agentic AI.
Marvell is well-positioned in custom chips and optical networking.
Analysts at Piper Sandler started coverage of several artificial intelligence (AI) semiconductor stocks, forecasting between 19% and 37% upside in Nvidia (NASDAQ: NVDA), Broadcom (NASDAQ: AVGO), Arm Holdings (NASDAQ: ARM), Advanced Micro Devices (NASDAQ: AMD), and Marvell Technology (NASDAQ: MRVL). All five stocks received "overweight" ratings.
Piper Sandler analysts David O'Connor and Zackary Altman argued that "AI is starving for more compute capacity," pointing to surging hourly pricing from neocloud companies for graphics processing unit (GPU) usage. They noted that hourly pricing for Nvidia's four-year-old H100 GPUs has climbed 30% from $2.00 in December to $2.60 currently. At the same time, AI chips are largely sold out for next year, and order books are already full for 2028.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
The Piper analysts project that the compute market will climb fivefold to reach $2.2 trillion by 2030. About $2 trillion of that will go to AI chips, with another $200 billion to central processing units (CPUs).
Let's take a closer look at these five AI chip stocks.
Piper sees Nvidia having the most upside among the group, placing a $300 price target on the stock, which is about 37% upside, as of the market close on Sept. 10. The analysts called the company the AI compute leader with about 80% market share, while noting that it continues to outpace the competition despite an increasingly crowded field.
Nvidia is a stock I think looks like a great buy here. The stock is trading at an attractive valuation, with a forward P/E of 14 times fiscal 2028 (ending January 2028) analyst estimates, and growing rapidly. Its CUDA software platform gives it a wide moat in training, while its "acquisition" of Groq makes it a formidable company in inference, as well.
Piper set a $460 share-price target on Broadcom, representing about 27% upside from here. The firm noted that the company holds about a 75% share of the ASIC (application-specific integrated circuit) market for inference and that demand is currently running double supply. It called it the cheapest stock of the group.
Given its valuation (19 times 1-year forward P/E) and extraordinary revenue growth ahead, Broadcom is one of my favorite stocks in the space. The company is both a leader in custom chips and networking, and it sees its AI revenue surging 400% over the next two years to $230 billion in fiscal 2028. It's just too cheap and has too much growth not to own in my view.
Arm Holdings
Arm is another Piper favorite, with the firm placing a $320 target on the stock. That's 26% above its current price. The analysts pointed to the company's important position in CPU intellectual property (IP) and its move to make physical chips for the first time as a catalyst.
Arm is trying to have its cake and eat it too, starting to make its own server CPUs, while also supplying some of the IP for these chips to leading companies like Nvidia, Alphabet, and Amazon. It's well positioned, but the stock looks pricey at a forward P/E of 114 times.
Advanced Micro Devices
Piper put a $600 target on AMD, representing about 19% upside. O'Connor and company pointed to agentic AI as being a big driver for AMD CPU sales, while believing it is well positioned to take market share.
AMD is one of my favorite AI semiconductor stocks because it is riding both the powerful waves of agentic AI and inference. It has been taking share from Intel in the server CPU space, and its GPUs are also well-positioned for inference. It already has some pretty large inference GPU deals in place that will drive tremendous growth in the coming years, while the server CPU market is set to see tremendous growth.
Marvell Technology
The analysts at Piper placed a $270 price target on Marvell, which is about 19% above its closing Sept. 10 price. They called its recent deal with Alphabet transformational, and sees the company benefiting from both the trends in custom chips and optical networking.
I like Marvell's opportunity, especially in optical interconnect, but at a one-year forward P/E of 34 times and the possibility of no longer being the prime IP company involved with Amazon's AI chips in the future, I'm more neutral on the stock.
Should you buy stock in Nvidia right now?
Before you buy stock in Nvidia, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $417,413!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,341,294!*
Now, it’s worth noting Stock Advisor’s total average return is 950% — a market-crushing outperformance compared to 210% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 13, 2026.
Geoffrey Seiler has positions in Advanced Micro Devices, Alphabet, Amazon, and Broadcom. The Motley Fool has positions in and recommends Advanced Micro Devices, Alphabet, Amazon, Arm Holdings, Broadcom, Intel, Marvell Technology, and Nvidia. The Motley Fool has a disclosure policy.

Wall Street Analyst Sees Between 19% to 37% Upside in These 5 AI Chip Stocks

The S&P 500 Index ($SPX) (SPY) on Friday rose by +0.86%, the Dow Jones Industrial Average ($DOWI) (DIA) rose by +0.98%, and the Nasdaq 100 Index ($IUXX) (QQQ) rose by +0.91%. E-mini S&P futures (ESU26) rose +0.83%, and September E-mini Nasdaq futures (NQU26) rose +0.86%.
Stock indexes closed higher, supported by Friday’s -2.4% decline in oil prices. The stock market took Friday’s CPI report largely in stride, even as the 10-year T-note yield closed slightly higher and the odds of a Fed rate hike next week rose to 85%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Friday’s Aug US CPI report of +0.4% m/m was in line with market expectations, but the core CPI report of +0.3% m/m was slightly stronger than market expectations of +0.2% m/m. On a year-on-year basis, the Aug CPI report of +3.4% y/y was unchanged from July and was in line with market expectations. Meanwhile, the Aug core CPI report of +2.4% y/y eased slightly from July’s +2.5% and posted a new 5.5-year low, and was in line with market expectations.
Friday’s CPI report caused the markets to raise the odds for a +25 bp FOMC rate hike at next week’s meeting on September 15-16 to 88% from 75% on Thursday.
Stocks were undercut by Friday’s weaker-than-expected US consumer sentiment report. The University of Michigan’s preliminary Sep US consumer sentiment index fell by -3.9 points to 47.8, weaker than market expectations for a -0.6 point decline to 51.3.
Also on the negative side, the University of Michigan reported that Sep US consumer 1-year inflation expectations rose to +4.6% from +4.0% in August, stronger than expectations of +4.2%. Sep consumer 5-10 year inflation expectations rose to +3.4% from +3.3% in August, and were stronger than market expectations of +3.3%.
The US-Canada trade war continues to weigh on stock market sentiment. On Tuesday, Canada imposed tariffs of 15% to 50% on hundreds of US goods in retaliation for the US action last month to impose 50% tariffs on $20 billion of imports from Canada. The US responded by blocking imports of some Canadian products and slapping new tariffs on others, and by seeking to bar Canadian companies from selling to US government contractors.
Oct WTI crude oil prices (CLV26) fell -2.4% on Friday, reversing part of Thursday’s +6.7% surge to a 3.5-month high. Oil prices still rose by a net +9% on the week, but fell on Friday after the International Energy Agency warned that high oil prices and restricted oil supply will cause the biggest drop in global oil demand this year since the Covid-19 pandemic.
There were reports that two ships were struck by unidentified projectiles near Oman on Thursday, presumably by Iran. Also, Axios reported that Saudi Crown Prince Mohammed bin Salman called President Trump twice on Thursday, asking him to launch a new military attack against the Houthis in Yemen, who are gaining control of more territory in Yemen near the critical Bab el-Mandeb Strait and have been striking Saudi oil facilities. Saudi Arabia told OPEC on Thursday that its crude production in August fell to 6.238 million bpd, the lowest since 1990.
Overseas stock markets closed mixed on Friday. The Euro Stoxx 50 closed up +0.90%. China's Shanghai Composite closed down -1.18%. Japan's Nikkei-225 Stock Average closed down -1.91%.
Interest Rates
December 10-year T-notes (ZNZ6) fell by -7 ticks. The 10-year T-note yield rose +0.6 bp to 4.969%, following Thursday’s +11 bp surge to a 2.75-year high of 4.963%. T-note prices found support early in the session from lower oil prices but eventually succumbed to the hawkish CPI report and the higher odds of an FOMC rate hike next week. T-note prices had some underlying support as the 10-year breakeven inflation expectations rate fell -4.4 bp to 2.373%, down from Thursday’s 3.25-month high of 2.42%.
European government bond yields were mixed. The 10-year German bund yield today posted a new 24-year high of 3.532% and ended the day up +0.3 bp to 3.504%. The 10-year UK gilt yield edged to a 19-year high of 5.380% but ended the day down -3.1 bp to 5.343%.
Markets are discounting a 78% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29. The ECB at this week’s meeting raised its deposit facility rate by 25 bp to 2.50%, as expected, and said inflation will stay above 2% for an "extended period."
US Stock Movers
Oracle (ORCL) rallied +5% in Thursday’s overnight session on positive cloud news but then lost those gains and ended Friday down -1.7%. Oracle said late Thursday that its cloud infrastructure sales rose +121% to $7.4 billion, above the market consensus of $7.2 billion. Oracle’s co-CEO Clay Magouyrk said, “We are delivering data center and GPU capacity at a pace that would have seemed impossible only a year ago.” The company also said it sold more than $30 billion in AI cloud contracts during the latest quarter, higher than expectations. Fiscal-Q1 sales rose +30% and the adjusted EPS report of $1.92 per share was higher than market expectations of $1.75.
Chipmakers rose nearly across the board on Friday, and the iShares Semiconductor ETF (SOXX) rallied +1.75% on the day. ON Semiconductor (ON) rallied more than +8%. Analog Devices (ADI), NXP Semiconductors (NXPI), Arm Holdings (ARM), and Marvell (MRVL) all rallied more than +4%.
The Magnificent Seven all closed higher on Friday except for Nvidia (NVDA), which showed a small loss. Amazon.com, Alphabet (GOOGL), and Apple (AAPL) all rallied by more than +1%. Apple found continued support after releasing its new iPhone Duo earlier this week, its first foldable phone.
Microsoft (MSFT) rallied +0.65% after saying it plans a data center push to triple its computing power since a current shortage is forcing it to turn away new AI and cloud business.
Crypto stocks traded higher on Friday, supported by a +3.1% gain in Ethereum (^ETHUSD) and a +0.2% gain in Bitcoin (^BTCUSD). Mara Holdings (MARA) rallied more than +4%, Riot Platforms rallied more than +2%, and Strategy (MSTR)and Coinbase (COIN) rallied more than 1%.
Adobe (ADBE) closed up +1.4% despite slightly disappointing guidance, fueling concerns that AI will cannibalize software revenue.
Dell Technologies (DELL) rallied nearly +12% after RBC Capital Markets started research coverage with an outperform rating and $640 price target based on expectations for strong AI infrastructure demand.
Earnings Reports (9/14/2026)
Liberty Live Holdings (LLYVK).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart

Stocks Shake Off CPI Report and Rally on Lower Oil Prices

Key Points
Arm dominates theglobal marketfor energy-efficient chip architecture used in smartphones and data centers.
Credo Technology Group is delivering explosive growth by providing high-speed connectivity solutions for cloud infrastructure.
Which of these semiconductor contenders is the better addition to your portfolio in 2026?
As demand for artificial intelligence accelerates, investors are weighing the merits of Arm (NASDAQ:ARM) and Credo Technology Group (NASDAQ:CRDO). Choosing between them requires deciding which business model is the better buy.
Arm provides the essential blueprints for modern processors, while Credo focuses on the high-speed connections that allow those processors to talk to each other. Both companies are vital to the data center infrastructure that powers the modern web, making them popular choices for investors seeking exposure to the semiconductor industry.
The case for Arm
Arm designs and licenses the fundamental architecture used in nearly every smartphone on the planet. In its latest annual report, filed for the fiscal year ended March 31, 2026, the company highlights its position among semiconductor stocks, generating royalties from chipmakers in various sectors. This asset-light model allows the business to reach end markets like data centers and vehicles without the heavy costs of manufacturing hardware.
In FY 2026, revenue reached nearly $4.9 billion, representing growth of approximately 22.8% compared to the prior year. The company reported net income of roughly $904.0 million during this same period. While revenue increased, the net margin, which measures the percentage of revenue remaining as profit after all expenses, decreased slightly to about 18.4% from 19.8% in the previous fiscal year.
As of its March 2026 balance sheet, the company maintained a debt-to-equity ratio of nearly 0.1x, indicating very little debt relative to shareholder equity. The current ratio was approximately 6.0x, which measures the company's ability to cover its short-term debts with short-term assets. Note that stock-based compensation represented roughly 69% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.
The case for Credo Technology Group
Credo Technology Group focuses on high-speed connectivity solutions that move data quickly and efficiently between servers. In its latest annual report, filed for the fiscal year ended May 2, 2026, the company highlights its work with cloud giants like Oracle (NYSE:ORCL) and Microsoft (NASDAQ:MSFT). Since its top 10 customers account for approximately 90% of total revenue, this concentration adds a significant layer of risk to the business.
In FY 2026, the company saw revenue surge to nearly $1.3 billion, which represents a massive growth rate of roughly 205.7% year-over-year. Net income for the period was approximately $472.3 million. The net margin expanded significantly to close to 35.4% during the period, up from roughly 11.9% in the prior fiscal year.
As of its May 2026 balance sheet, the debt-to-equity ratio was nearly 0.0x. The current ratio was approximately 10.2x, while free cash flow reached nearly $407.0 million during the fiscal year. Note that stock-based compensation represented roughly 39.3% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.
Risk profile comparison
Arm faces risks related to the competitive landscape of chip architecture and shifting geopolitical trade policies. The company must continuously innovate to ensure that its designs remain the standard as competitors develop alternative open-source architectures. Because its technology is used globally, any changes in international trade regulations could impact its ability to license intellectual property to certain regions.
Credo Technology Group is highly dependent on a small number of customers, including Oracle and Microsoft. The business also relies exclusively on Taiwan Semiconductor Manufacturing for wafer production, which creates vulnerability to supply chain disruptions or geopolitical tensions. Furthermore, the company faces intense competition from Broadcom (NASDAQ:AVGO) and Marvell Technology (NASDAQ:MRVL) in the rapidly changing market for high-speed connectivity.
Valuation comparison
Credo Technology Group looks cheaper than Arm because it trades at a much lower multiple of its future earnings estimates and sales.
The Forward P/E and P/S ratio are common ways to measure a company's relative valuation.
Metric
Arm
Credo Technology Group
Forward P/E
102.9x
26.5x
P/S ratio
49.8x
23.2x
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.
Which stock would I buy in 2026?
I'd go with Credo Technology, though Arm Holdings is a harder company to walk away from than its premium valuation implies. Arm's chip architecture is embedded in virtually every smartphone and increasingly in AI data centers. Royalty revenue more than doubled in the data center segment and the business compounds reliably regardless of any single customer relationship. For a long-term investor who values durability and consistency, it is a strong choice.
But Credo just delivered some spectacular results: its seventh consecutive quarter of triple-digit year-over-year revenue growth, exceeding the high end of its own guidance and posting nearly 50% net margins. Its connectivity chips and optical products are becoming essential infrastructure inside the AI data centers being built by every major hyperscaler, and management guided for more than 85% revenue growth for the full year.
Customer concentration is the one risk worth watching closely. But for a long-term investor comfortable with that trade-off, Credo's growth trajectory is one of the most impressive in semiconductors right now.
Should you buy stock in Arm Holdings right now?
Before you buy stock in Arm Holdings, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Arm Holdings wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $409,917!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,341,724!*
Now, it’s worth noting Stock Advisor’s total average return is 942% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 11, 2026.
Sara Appino has positions in Taiwan Semiconductor Manufacturing. The Motley Fool has positions in and recommends Arm Holdings, Broadcom, Marvell Technology, Microsoft, Oracle, and Taiwan Semiconductor Manufacturing. The Motley Fool has a disclosure policy.

Arm vs. Credo Technology Group: Which Semiconductor Stock Is a Better Buy in 2026?

Key Points
Arm designs the core architecture used in nearly all mobile devices and is expanding rapidly into artificial intelligence data centers.
Sandisk has transitioned into a highly profitable NAND flash storage powerhouse with massive revenue growth and cash flow generation.
Which semiconductor stock deserves a spot in your portfolio?
The semiconductor landscape is shifting as artificial intelligence demands both specialized processing and massive storage. Deciding between Arm (NASDAQ:ARM) and Sandisk (NASDAQ:SNDK) requires weighing premium architectural dominance against cyclical hardware growth.
Arm licenses intellectual property for chip designs, earning royalties on billions of devices. Sandisk manufactures physical memory products like solid-state drives and flash cards. While Arm offers a high-margin, asset-light model, Sandisk provides the essential hardware foundation for data-heavy artificial intelligence workloads, making this a choice between architectural influence and manufacturing scale.
The case for Arm
Arm designs the basic blueprints for the chips that power everything from smartphones to data centers. According to its latest annual report, filed for the period ending March 31, 2026, the company employed over 9,500 people to support its licensing and royalty model. It primarily generates revenue by charging chipmakers for the right to use its intellectual property and then collecting a fee for every chip sold.
Arm occupies a unique position among semiconductor stocks because it does not manufacture chips itself. In FY 2026, revenue reached nearly $4.9 billion, representing a 22.8% increase over the previous year. This growth helped the company achieve a net income of approximately $904.0 million, resulting in a net margin of roughly 18.4%.
As of its March 2026 balance sheet, the debt-to-equity ratio is 0.1x. This ratio, which measures total debt against shareholder equity, suggests the company has very little debt. Its current ratio of 6.0x shows it has six times more liquid assets than short-term liabilities, and free cash flow reached nearly $979.0 million. Note that stock-based compensation represented roughly 69% of operating cash flow, which inflates reported cash generation since SBC is a non-cash expense added back in the cash flow statement.
The case for Sandisk
Sandisk specializes in NAND flash memory and storage solutions, which are critical for storing the vast amounts of data used by artificial intelligence. Its latest annual report, filed in July 2026, notes that it serves a diverse range of customers including cloud service providers and consumer electronics makers. The company operates a significant joint venture with Kioxia to ensure a steady supply of high-performance memory wafers.
In FY 2026, Sandisk generated nearly $20.2 billion in revenue, which was a massive 175.3% jump from the prior year. This growth helped the company achieve a net income of roughly $11.4 billion and a net margin of nearly 56.5%. These figures show a significant turnaround compared to the net loss reported in the previous fiscal year.
As of its July 2026 balance sheet, the debt-to-equity ratio is 0.0x, meaning liabilities are extremely low compared to equity. The current ratio of 2.3x indicates the company has more than enough cash and short-term assets to cover its upcoming bills. Free cash flow for the year was roughly $11.5 billion, providing the company with significant capital for reinvestment.
Risk profile comparison
Arm faces competition from open-source architectures like RISC-V that provide a royalty-free alternative to its licensed designs. Because many of its customers are also its competitors, the company must maintain a delicate balance to avoid losing market share to internal chip projects. Geopolitical tensions also pose a risk given the global nature of its licensing business and the complexity of international trade laws.
Sandisk relies heavily on its Flash Ventures partnership with Kioxia for its supply of NAND flash memory. This dependency on a joint venture creates risks if the partners disagree on capital spending or technology roadmaps. The company also faces intense competition from Samsung Electronics (OTC:SSNLF), Micron Technology (NASDAQ:MU), and SK Hynix (NASDAQ:SKHY) in a market known for price volatility.
Valuation comparison
Sandisk is the cheaper option because its Forward P/E and P/S ratio, comparing price to future earnings estimates and revenue, are much lower.
Forward P/E
102.9x
7.2x
P/S ratio
49.8x
11.2x
Valuation metrics sourced from Financial Modeling Prep (FMP) and may differ from other data providers.
Which stock would I buy in 2026?
I'd go with Sandisk, though Arm Holdings is a harder company to dismiss than its premium valuation implies. Arm's chip architecture is embedded in virtually every smartphone, increasingly in data centers, and royalty revenue more than doubled in the data center segment last quarter. For a long-term investor who wants durable, compounding growth, it is a solid choice.
But Sandisk is doing something that most memory companies have never managed: breaking the boom-bust cycle that has defined the industry for decades. Through a series of long-term contracts with major hyperscalers including Microsoft, Alphabet's Google, and Meta, the company has locked in contracted pricing covering the majority of its capacity through 2028, backed by billions in customer financial guarantees. Wall Street is starting to value Sandisk less like a commodity memory maker and more like an AI infrastructure company with predictable, durable revenue.
The most recent quarter delivered record gross margins, strong earnings, and guidance that sent the stock higher. For a long-term investor, that combination of structural change and financial momentum is worth owning.
Should you buy stock in Arm Holdings right now?
Before you buy stock in Arm Holdings, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Arm Holdings wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $409,917!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,341,724!*
Now, it’s worth noting Stock Advisor’s total average return is 942% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 11, 2026.
Sara Appino has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Arm Holdings, Meta Platforms, Micron Technology, and Microsoft. The Motley Fool has a disclosure policy.

Arm vs. Sandisk: Which Technology Stock Is a Better Buy in 2026?

IonQ IONQ has launched Superion 256, its sixth-generation quantum computing platform and the foundation for future compute products. The platform has moved from early design to trapping ions in under a year, with IonQ fabricating its first fully integrated 256-qubit quantum processing units (QPUs) at its SkyWater subsidiary. The company has also trapped the first ions in prototype Superion 256 systems, which are being built simultaneously at multiple U.S. facilities.
IonQ and SkyWater jointly designed and fabricated the chip, completing six tapeouts in the first half of 2026. Working with SkyWater’s quantum foundry, IonQ cut its design cycle to two months from nine months. The teams also delivered 12 times more wafer lots over six months than they did at a previous foundry.
At the core of Superion 256 is IonQ’s Electronic Qubit Control (“EQC”), which controls trapped-ion qubits with electronics integrated directly into the chip rather than with laser systems. The underlying qubit control is manufactured using standard semiconductor processes. The chip uses the same EQC technology that IonQ used to achieve a 99.99% two-qubit gate fidelity world record in October 2025.
Designed for data center deployment, the system fits a standard server rack without requiring a bespoke buildout. It also uses less power than a rack of GPUs, while its cooling system is suited to typical data center environments.
The Superion platform scales from 256 qubits to millions of qubits. Every generation that follows Superion 256 expands use of the same ions, the same qubits, the same electronic control and the same chip fabric. Superion 10K is already underway and integrates CMOS into the chip, a scaling technique SkyWater already manufactures at volume.
IonQ is taking orders for Superion 256 now, with customer deliveries set for 2027. The company pre-sold its first system in the first quarter of 2026, while production-grade systems will also run on its cloud.
IONQ’s Peer Updates
IBM IBM and Lockheed Martin, through an offset agreement with armasuisse, Switzerland’s Federal Office for Defence Procurement, have established a hub for quantum innovation at ETH Zurich, a public research university. The new hub plans to host the country’s first IBM Quantum System Two at the Swiss National Supercomputing Center in Lugano. The project also advances the strategic collaboration between the companies, combining Lockheed Martin innovations in quantum sensing and additive manufacturing with IBM’s expertise in quantum computing and AI.
Meanwhile, Arm Holdings plc ARM has introduced CSS for Mobile 2, combining agentic AI and AI-native graphics in a single compute platform. CSS for Mobile 2 includes the new Arm Mali G2-Ultra NX GPU, the Arm C2 CPU cluster with SME2, enhanced system IP, physical implementations and a developer-ready software ecosystem in a platform optimized for next-generation mobile devices.
The Zacks Rundown for IONQ Stock
Over the past year, IonQ shares have dropped 21.4% against the industry’s 97.9% surge.
IONQ is trading at a forward earnings multiple of 36.15X compared with the 4.93X industry average.
Estimates for the company’s loss per share have widened over the past three months, as shown below.
IONQ stock currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
IonQ, Inc. (IONQ) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).

IonQ Advances Quantum Computing With Superion 256: What's Ahead?

The S&P 500 Index ($SPX) (SPY) closed down -0.58% on Thursday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.60%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.08%. E-mini S&P futures (ESU26) fell -0.61%, and September E-mini Nasdaq futures (NQU26) fell -1.07%.
Stock indexes settled lower on Thursday, with the S&P 500 and Dow Jones Industrials dropping to 5-week lows. Soaring energy prices pushed global bond yields sharply higher on Thursday, weighing on stocks. WTI crude oil surged more than +6% on Thursday to a 3.5-month high amid fears that the US-Iran war will persist, increasing inflation risks and prompting the world’s central banks to keep raising interest rates. The 10-year UK Gilt yield jumped to a 19-year high today of 5.38%, the 10-year German Bund yield surged to a 17-year high of 3.51%, and the 10-year T-note yield rose to a 2.75-year high of 4.96%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks added to their losses on Thursday, and T-note yields climbed further after US Aug PPI rose more than expected, signaling persistent price pressures, and after weekly jobless claims remained low, signaling labor market strength.
US weekly initial unemployment claims fell -1,000 to 206,000, close to expectations of 205,000 and signaling a stable labor market.
US Aug PPI final demand rose +5.4% y/y, stronger than expectations of +5.3% y/y. Aug PPI ex-food and energy rose +4.6% y/y, right on expectations.
US Aug existing home sales fell -2.0% m/m to a 14-month low of 3.98 million, right on expectations.
The escalating trade war between the US and Canada is also weighing on market sentiment. On Tuesday, Canada imposed tariffs of 15% to 50% on hundreds of US goods in retaliation for the US action last month to impose 50% tariffs on $20 billion of imports from Canada. The US responded by moving to block imports of some Canadian products and slapping new tariffs on others, as well as seeking to bar Canadian companies from selling to US government contractors.
Oct WTI crude oil prices (CLV26) surged more than +6% on Thursday to a 3.5-month high. Crude prices are climbing after Iran said that it is ready for a more intense war and will escalate counterstrikes if the US continues attacking its territory and infrastructure. The prospect of a lengthy conflict that limits crude supplies from the Middle East is underpinning crude oil prices. Crude oil prices added to their gains on Thursday after Saudi Arabia told OPEC that its crude production in August fell to 6.238 million bpd, the lowest since 1990.
The markets are discounting a 75% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled mixed on Thursday. The Euro Stoxx 50 dropped to a 6-week low and closed down -0.67%. China's Shanghai Composite closed down -0.43%. Japan's Nikkei-225 Stock Average closed up +0.20%.
Interest Rates
December 10-year T-notes (ZNZ6) closed down by -23 ticks. The 10-year T-note yield rose +10.7 bp to 4.948%. T-notes tumbled to a 2.75-year nearest futures low on Thursday, and the 10-year T-note yield rose to a 2.75-year high of 4.963%. T-notes sold off as crude oil prices surged, which boosted inflation expectations. WTI crude oil rose more than +6% on Thursday to a 3.5-month high, lifting the 10-year breakeven inflation rate to a 3.25-month high of 2.419%.
On the positive side for T-notes was the decline in US Aug existing home sales to a 14-month low. T-notes also found support on strong demand for the Treasury’s $22 billion auction of 30-year T-bonds that had a bid-to-cover ratio of 2.61, well above the 10-auction average of 2.40.
European government bond yields moved sharply higher on Thursday. The 10-year German bund yield jumped to a 17-year high of 3.508% and finished up +5.7 bp to 3.501%. The 10-year UK gilt yield soared to a 19-year high of 5.376% and finished up +11.2 bp to 5.374%.
The ECB, as expected, raised the deposit facility rate by 25 bp to 2.50% and said inflation will stay above 2% for an "extended period."
The ECB raised its 2026 Eurozone GDP forecast to +0.9% from a prior forecast of +0.8%, and kept its 2026 inflation ex-food and energy forecast unchanged at 2.5%.
Markets are discounting a 97% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI-infrastructure stocks retreated on Thursday, pressuring the broader market. CoreWeave (CRWV), Intel (INTC), and Lam Research (LRCX) closed down more than -5%, and Micron Technology (MU) and Western Digital (WDC) closed down more than -4%. Also, ARM Holdings (ARM), SanDisk (SNDK), Advanced Micro Devices (AMD), KLA Corp (KLAC), Marvell Technology (MRVL), and Applied Materials (AMAT) closed down more than -3%, and Nvidia(NVDA), ASML Holding NV (ASML), and Seagate Technology Holdings Plc (STX) closed down more than -2%.
Copper-producing stocks are falling today, with copper prices down more than -4% after Reuters reported that the White House has not yet made a decision on refined copper tariffs as it weighs concerns of higher prices raising manufacturing costs against the potential benefits of encouraging more domestic mining. Southern Copper (SCCO) closed down more than -7%, and Freeport-McMoRan (FCX) closed down more than -6%. Also, Rio Tinto Plc (RIO) closed down more than -4%, and Newmont Corp (NEM) closed down more than -2%.
Home builders and suppliers moved lower on Thursday after the 10-year T-note yield jumped to a 2.75-year high, pushing up mortgage rates and weighing on housing demand. Lennar (LEN), KB Home (KBH), and Builders Firstsource (BLDR) closed down more than -3%. Also, DR Horton (DHI) and Pulte Group (PHM) closed down more than -2%, and Toll Brothers (TOL) and Home Depot (HD) closed down more than -1%.
Cooper Cos (COO) closed down more than -14% to lead losers in the S&P 500 after reporting Q3 net sales of $1.07 billion, below the consensus of $1.10 billion, and cutting its full-year revenue forecast to $4.23 billion to $4.25 billion from a previous forecast of $4.29 billion to $4.32 billion, weaker than the consensus of $4.31 billion.
American Eagle Outfitters (AEO) closed down more than -13% after reporting Q2 comparable sales rose +6.00%, weaker than the consensus of +6.47%.
FactSet Research Systems (FDS) closed down more than -5% after OpenAI said it’s releasing ChatGPT for Financial Services, a new tool for investment bankers and equity researchers.
AeroVironment (AVAV) closed up more than +4% after reporting Q1 revenue of $480.5 million, stronger than the consensus of $455.8 million.
Apple (AAPL) closed up more than +3% to lead gainers in the Dow Jones Industrials after analysts were generally positive about the company’s new iPhone Duo, its first foldable phone.
Earnings Reports (9/11/2026)
Kroger Co/The (KR) and Rent the Runway Inc (RENT).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart

Stocks Settle Lower as Surging Crude Prices Boost Fed Rate Hike Chances

Key Points
Nvidia notes that its Vera server CPU is poised for widespread adoption by customers.
The shrinking share of x86 server CPUs and Nvidia's entry into this market doesn't bode well for Intel and AMD.
Nvidia (NASDAQ: NVDA) has played a pioneering role in the field of artificial intelligence (AI) thanks to its graphics processing units (GPUs), whose massive parallel computing power has enabled the training of popular large language models (LLMs).
Importantly, Nvidia has maintained its dominance in the AI chip market, as evidenced by its recent results that showed a significant jump in revenue and earnings. The good news for Nvidia investors is that it is pulling the right strings to ensure that it continues to dominate this lucrative market. The company's entry into the server central processing unit (CPU) market is one such move, which has put this market's heavyweights -- Intel and Advanced Micro Devices -- on the defensive.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
AMD and Intel have a big reason to be worried right now
Server CPUs are in high demand right now, primarily due to the shift toward agentic AI and inference workloads in data centers. AMD notes that the server CPU market's revenue could increase at an annual rate of 50% through 2030, creating a $220 billion revenue opportunity by the end of the decade.
AMD and Intel have traditionally dominated the server CPU market. They manufacture chips based on the x86 architecture. However, the growing demand for agentic AI and inference workloads has triggered a shift toward Arm-based chips owing to their low power consumption and higher efficiency. Nvidia is capitalizing on this trend.
The AI bellwether's Vera server CPU is designed on Arm's architecture. The important thing to note is that Nvidia sees healthy demand for its stand-alone Vera server CPU. CFO Colette Kress remarked on Nvidia's August earnings call:
Today, we are in full production of our next-generation Vera CPU. As a stand-alone product, Vera expands our TAM even further. Vera completes agentic task, 1.8x faster on the spec benchmark and provides 5x the bandwidth per watt than any other data center CPU.
Kress added that the Vera CPU will be deployed by "every major hyperscaler, neocloud, AI lab, and system OEM." The company is already shipping this product to key customers and expects to sell $20 billion worth of Vera CPUs this year. What's more, Nvidia expects its Vera CPU revenue to double next year.
So, Nvidia's chip poses a clear threat to AMD and Intel, especially as the share of x86 server processors shrinks. Tom's Hardware noted in June that Arm-based servers account for 45% of the data center market's revenue share. Nvidia's prediction that its server CPU revenue will double next year suggests that Arm-based processors are on track to capture a larger share of this market, which doesn't bode well for Intel and AMD.
Nvidia's continued AI chip dominance and valuation should send the stock soaring
Nvidia stock has jumped just 21% in 2026, while AMD and Intel have clocked solid triple-digit gains. However, that could change in the future due to Nvidia's stronger growth and improving prospects.
Also, Nvidia is the better AI stock to buy in this cohort owing to its significantly cheaper valuation. It has a price-to-earnings ratio of 29, lower than AMD's reading of 122 and Intel's earnings multiple of 88.
Nvidia's significantly lower valuation suggests it has greater upside potential than Intel and AMD. Moreover, Nvidia's move into the server CPU market could stifle AMD and Intel's growth, giving investors another terrific reason to buy Nvidia stock before it steps on the gas.
Should you buy stock in Nvidia right now?
Before you buy stock in Nvidia, consider this:
The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Nvidia wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years.
Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $410,024!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,372,815!*
Now, it’s worth noting Stock Advisor’s total average return is 950% — a market-crushing outperformance compared to 211% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors.
*Stock Advisor returns as of September 10, 2026.
Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices, Arm Holdings, Intel, and Nvidia. The Motley Fool has a disclosure policy.

An Nvidia Move Just Put AMD and Intel on the Defensive

The S&P 500 Index ($SPX) (SPY) is down -0.42% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.43%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.69%. E-mini S&P futures (ESU26) are down -0.40%, and September E-mini Nasdaq futures (NQU26) are down -0.65%.
Stock indexes are under pressure today, with the S&P 500 and Dow Jones Industrials dropping to 5-week lows. Soaring energy prices are pushing global bond yields higher today, weighing on stocks. WTI crude oil is up more than +3% today at a 3.5-month high amid fears that the US-Iran war will persist, increasing inflation risks and prompting the world’s central banks to keep raising interest rates. The 10-year UK Gilt yield rose to a 19-year high today of 5.36%, the 10-year German Bund yield climbed to a 15-year high of 3.50%, and the 10-year T-note yield rose to a 2.75-year high of 4.93%.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks added to their losses today, and T-note yields climbed further after US Aug PPI rose more than expected, signaling persistent price pressures, and after weekly jobless claims remained low, signaling labor market strength.
US weekly initial unemployment claims fell -1,000 to 206,000, close to expectations of 205,000 and signaling a stable labor market.
US Aug PPI final demand rose +5.4% y/y, stronger than expectations of +5.3% y/y. Aug PPI ex-food and energy rose +4.6% y/y, right on expectations.
US Aug existing home sales fell -2.0% m/m to a 14-month low of 3.98 million, right on expectations.
The escalating trade war between the US and Canada is also weighing on market sentiment. On Tuesday, Canada imposed tariffs of 15% to 50% on hundreds of US goods in retaliation for the US action last month to impose 50% tariffs on $20 billion of imports from Canada. The US responded by moving to block imports of some Canadian products and slapping new tariffs on others, as well as seeking to bar Canadian companies from selling to US government contractors.
Oct WTI crude oil prices (CLV26) are up more than +3% today at a 3.5-month high. Crude prices are climbing after Iran said that it is ready for a more intense war and will escalate counterstrikes if the US continues attacking its territory and infrastructure. The prospect of a lengthy conflict that limits crude supplies from the Middle East is underpinning crude oil prices. Crude oil prices added to their gains today after Saudi Arabia told OPEC that its crude production in August fell to 6.238 million bpd, the lowest since 1990.
The markets are discounting a 72% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are mixed today. The Euro Stoxx 50 dropped to a 6-week low and is down -0.42%. China's Shanghai Composite closed down -0.43%. Japan's Nikkei-225 Stock Average closed up +0.20%.
Interest Rates
December 10-year T-notes (ZNZ6) are down by -17 ticks. The 10-year T-note yield is up +7.3 bp to 4.914%. T-notes tumbled to a 2.75-year nearest futures low, and the 10-year T-note yield rose to a 2.75-year high of 4.928%. T-notes are under pressure from higher crude oil prices, which are boosting inflation expectations. WTI crude oil is up more than +3% today at a 3.5-month high, lifting the 10-year breakeven inflation rate to a 3.25-month high of 2.408%. Supply pressures are also weighing on T-notes as the Treasury will auction $22 billion of 30-year T-bonds later today. T-notes added to their losses today after Aug PPI rose more than expected.
European government bond yields are moving higher today. The 10-year German bund yield climbed to a new 15-year high of 3.495% and is up +4.8 bp to 3.492%. The 10-year UK gilt yield rose to a 19-year high of 5.362% and is up +9.7 bp to 5.358%.
The ECB, as expected, raised the deposit facility rate by 25 bp to 2.50% and said inflation will stay above 2% for an "extended period."
The ECB raised its 2026 Eurozone GDP forecast to +0.9% from a prior forecast of +0.8%, and kept its 2026 inflation ex-food and energy forecast unchanged at 2.5%.
Markets are discounting a 77% chance of a +25 bp ECB rate hike at the ECB’s next meeting on October 29.
US Stock Movers
Chipmakers and AI-infrastructure stocks are sliding today, pressuring the broader market. CoreWeave (CRWV), Intel (INTC), and Lam Research (LRCX) are down more than -4%, and Micron Technology (MU), SanDisk (SNDK), and Western Digital (WDC) are down more than -3%. Also, ARM Holdings (ARM), Advanced Micro Devices (AMD), and Applied Materials (AMAT) are down more than -2%, and Nvidia(NVDA) is down more than 2% to lead losers in the Dow Jones Industrials.
Copper-producing stocks are falling today, with copper prices down more than -4% after Reuters reported that the White House has not yet made a decision on refined copper tariffs as it weighs concerns of higher prices raising manufacturing costs against the potential benefits of encouraging more domestic mining. Freeport-McMoRan (FCX) is down more than -7%, and Southern Copper (SCCO) is down more than -6%. Also, Rio Tinto Plc (RIO) is down more than -4%, and Newmont Corp (NEM) is down more than -2%.
Home builders and suppliers are retreating today after the 10-year T-note yield jumped to a 2.75-year high, pushing up mortgage rates and weighing on housing demand. Lennar (LEN) is down more than -4%, and DR Horton (DHI), Pulte Group (PHM), KB Home (KBH), and Builders Firstsource (BLDR) are down more than -3%. Also, Toll Brothers (TOL) is down more than -2%.
AeroVironment (AVAV) is up more than +10% to lead drone makers higher after reporting Q1 revenue of $480.5 million, stronger than the consensus of $455.8 million. Also, Red Cat Holdings (RCAT) is up more than +3%, and Defiance Drone and Modern Warfare ETF (JEDI), Aevex Corp (AVEX), Unusual Machines (UMAC), and Kratos Defense & Security Solutions (KTOS) are up more than +2%.
Cybersecurity stocks are climbing today, a supportive factor for stocks. Fortinet (FTNT) and Okta (OKTA) are up more than +2%, and CrowdStrike Holdings (CRWD), Palo Alto Networks (PANW), and SentinelOne (S) are up more than +1%.
American Eagle Outfitters (AEO) is down more than -14% after reporting Q2 comparable sales rose +6.00%, weaker than the consensus of +6.47%.
Cooper Cos (COO) is down more than -13% to lead losers in the S&P 500 after reporting Q3 net sales of $1.07 billion, below the consensus of $1.10 billion, and cutting its full-year revenue forecast to $4.23 billion to $4.25 billion from a previous forecast of $4.29 billion to $4.32 billion, weaker than the consensus of $4.31 billion.
Driven Brands Holdings (DRVN) is down more than -3% after Bank of America Global Research double-downgraded the stock to underperform from buy with a price target of $12.
Kymera Therapeutics (KYMR) is up more than +1% after Wolfe Research upgraded the stock to outperform from peer perform with a price target of $180.
Earnings Reports (9/10/2026)
Adobe Inc (ADBE), Copart Inc (CPRT), Macy's Inc (M), Oracle Corp (ORCL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Retreat as 10-year T-note Yield Reaches New 2.75-year High

The S&P 500 Index ($SPX) (SPY) closed down -0.48% on Wednesday, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.77%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.29%. E-mini S&P futures (ESU26) fell -0.46%, and September E-mini Nasdaq futures (NQU26) fell -0.30%.
Stock indexes retreated on Wednesday, with the Dow Jones Industrial Average falling to a 5-week low. The broader market was under pressure for a second day amid mounting inflation risks. WTI crude oil prices surged more than +3% today to a 3.25-month high amid escalating hostilities in the Middle East, heightening concerns about energy flows through the Strait of Hormuz. The surge in energy prices is boosting inflation expectations and pushing bond yields higher. The 10-year T-note yield rose to 4.85% on Wednesday, the highest in 2.75 years. The higher bond yields weighed on stocks.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
On the positive side, chipmakers and AI-infrastructure stocks gained on Wednesday. Energy producers also rose on stronger crude oil prices.
The escalating trade war between the US and Canada is also weighing on market sentiment. On Tuesday, Canada imposed tariffs of 15% to 50% on hundreds of US goods in retaliation for the US action last month to impose 50% tariffs on $20 billion of imports from Canada. The US responded by moving to block imports of some Canadian products and slapping new tariffs on others, as well as seeking to bar Canadian companies from selling to US government contractors.
US MBA mortgage applications fell -2.7% in the week ended September 4, with the purchase mortgage sub-index down -0.2% and the refinancing mortgage sub-index down -6.2%. The average 30-year fixed-rate mortgage rose +6 bp to a 14-month high of 6.85% from 6.79% in the prior week.
Oct WTI crude oil prices (CLV26) surged more than +3% on Wednesday to a 3.25-month high due to the latest escalation of hostilities in the Middle East. The US destroyed five Iranian tankers carrying crude in response to two attempts by Iran to hit US Navy ships with ballistic missiles. Iran responded by firing missiles at a US air base in Jordan and warning ships in the Persian Gulf that they would be attacked. Iran also said on Wednesday that it is ready for a more intense war and will escalate counterstrikes if the US continues attacking its territory and infrastructure.
The markets are discounting a 61% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets settled mixed on Wednesday. The Euro Stoxx 50 fell to a 5-week low and closed down -1.58%. China's Shanghai Composite closed up +0.28%. Japan's Nikkei-225 Stock Average closed down -0.19%.
Interest Rates
December 10-year T-notes (ZNZ6) closed down by -7.5 ticks on Wednesday. The 10-year T-note yield rose +4.5 bp to 4.833%. T-notes fell to a 20-month nearest-futures low on Wednesday, and the 10-year T-note yield rose to a 2.75-year high of 4.853%. T-notes are under pressure from higher crude oil prices, which are boosting inflation expectations, as WTI crude oil rose more than +3% on Wednesday to a 3.25-month high. T-notes added to their losses on Wednesday after the Treasury announced that it will buy back up to $6 billion in longer-dated US Treasuries, below expectations of at least $10 billion.
T-notes recovered from their worst level on Wednesday amid strong demand for the Treasury’s $39 billion auction of 10-year T-notes. The auction had a bid-to-cover ratio of 2.71, well above the 10-auction average of 2.49.
European government bond yields moved higher on Wednesday. The 10-year German bund yield climbed to a new 15-year high of 3.444% and finished up +7.8 bp on that high. The 10-year UK gilt yield rose +8.8 bp to 5.261%.
French July manufacturing production unexpectedly fell -0.8% m/m, weaker than expectations of a +0.4% m/m increase.
Markets are discounting a 100% chance of a +25 bp ECB rate hike at Thursday’s policy meeting.
US Stock Movers
Telecommunication and cable providers moved lower on Wednesday, led by a -6% fall in Comcast (CMCSA), which led losers in the Nasdaq 100 after CFO Armstrong said he sees no improvement in Q3 broadband subscriber losses. Charter Communications (CHTR) also fell more than 8%, and Verizon Communications (VZ) and AT&T (T) closed down more than 1%.
Chipmakers and AI-infrastructure stocks moved higher on Wednesday, limiting losses in the overall market. Marvell Technology (MRVL) closed up more than +4%, and Advanced Micro Devices (AMD) closed up more than +3%. Also, Micron Technology (MU) closed up more than +2%, and ARM Holdings (ARM), Western Digital (WDC), SanDisk (SNDK), Intel (INTC), Texas Instruments (TXN), and Qualcomm (QCOM) closed up more than +1%.
Energy producers and service providers rallied on Wednesday after WTI crude oil rose more than +3% to a 3.25-month high. APA Corp (APA) and ExxonMobil Holdings (XOM) closed up more than +2%. Also, Chevron (CVX), Devon Energy (DVN), Diamondback Energy (FANG), Occidental Petroleum (OXY), ConocoPhillips (COP), and Valero Energy (VLO) closed up more than +1%.
ServiceTitan (TTAN) closed down more than -29% after reporting a Q2 EPS loss of -26 cents, a bigger loss than the consensus of -25 cents.
Casy’s General Stores (CASY) closed down more than -14% to lead losers in the S&P 500 after reporting a Q1 gross margin of 21.8%, below the consensus of 22.3%.
Chewy (CHWY) closed down more than -10% after forecasting a sequential decline in Q3 gross margin, due to a timing shift as certain rebate benefits shifted from the second half of the year into Q2.
Smithfield Foods (SFD) closed down more than -6% after cutting its Q3 earnings outlook, citing “continued compression in the industry fresh pork market spread and lower hog prices.”
Dyne Therapeutics (DYN) closed down more than -5% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $10.
Booking Holdings (BKNG) closed down more than -3% after losing an EU court fight over its takeover of Sweden’s Etraveli Group, when a judge said regulators were right to conclude that the planned buyout threatened fair competition.
Chime Financial (CHYM) closed up more than +7% after boosting its full-year revenue forecast to $2.76 billion to $2.77 billion from a previous forecast of $2.73 billion to $2.75 billion, stronger than the consensus of $2.74 billion.
Meta Platforms (META) closed up more than +6% after analysts reported positive reviews of the company’s debut of Muse, an AI assistant.
HP Inc (HPQ) closed up more than +3% after announcing a pact with Red Hat on an AI platform.
Sysco (SYY) closed up more than +2% after raising its mid-term financial targets for fiscal years 2028 and 2029 to annualized net sales growth of 4% to 7%, up from a previous view of 4% to 6%.
Earnings Reports (9/10/2026)
Adobe Inc (ADBE), Copart Inc (CPRT), Macy's Inc (M), Oracle Corp (ORCL).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.

Stocks Fall as Crude Prices Soar and Bond Yields Climb

The S&P 500 Index ($SPX) (SPY) is down -0.25% today, the Dow Jones Industrial Average ($DOWI) (DIA) is down -0.69%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.12%. E-mini S&P futures (ESU26) are down -0.92%, and September E-mini Nasdaq futures (NQU26) are up +0.11%.
Stock indexes are sliding today, with the Dow Jones Industrial Average falling to a 5-week low. The broader market is under pressure for a second day amid mounting inflation risks. WTI crude oil prices are up more than +3% today to a 3.25-month high amid escalating hostilities in the Middle East, heightening concerns about energy flows through the Strait of Hormuz. The surge in energy prices is boosting inflation expectations and pushing bond yields higher. The 10-year T-note yield rose to 4.85% today, the highest in 2.75 years. The higher bond yields are weighing on stocks.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
On the positive side, strength in chipmakers and AI-infrastructure stocks supports the Nasdaq 100 index. Energy producers are also climbing today on stronger crude oil prices.
Also, an escalating trade war between the US and Canada is weighing on market sentiment. On Tuesday, Canada imposed tariffs of 15% to 50% on hundreds of US goods in retaliation for the US action last month to impose 50% tariffs on $20 billion of imports from Canada. The US responded by moving to block imports of some Canadian products and slapping new tariffs on others, as well as seeking to bar Canadian companies from selling to US government contractors.
US MBA mortgage applications fell -2.7% in the week ended September 4, with the purchase mortgage sub-index down -0.2% and the refinancing mortgage sub-index down -6.2%. The average 30-year fixed-rate mortgage rose +6 bp to a 14-month high of 6.85% from 6.79% in the prior week.
Oct WTI crude oil prices (CLV26) are up more than +3% today at a 3.25-month high due to the latest escalation of hostilities in the Middle East. The US destroyed five Iranian tankers carrying crude in response to two attempts by Iran to hit US Navy ships with ballistic missiles. Iran responded by firing missiles at a US air base in Jordan and warning ships in the Persian Gulf that they would be attacked.
The markets are discounting a 62% chance of a +25 bp rate hike at the next FOMC meeting on September 15-16.
Overseas stock markets are mixed today. The Euro Stoxx 50 fell to a 5-week low and is down -1.65%. China's Shanghai Composite closed up +0.28%. Japan's Nikkei-225 Stock Average closed down -0.19%.
Interest Rates
December 10-year T-notes (ZNZ6) are down by -6 ticks today. The 10-year T-note yield is up +2.8 bp to 4.830%. T-notes fell to a 20-month nearest-futures low today, and the 10-year T-note yield rose to a 2.75-year high of 4.849%. T-notes are under pressure from higher crude oil prices, which are boosting inflation expectations, as WTI crude oil is up more than +3% to a 3.25-month high. Supply pressures are also weighing on T-note prices as the Treasury will auction $39 billion in 10-year T-notes later today. T-notes added to their losses today after the Treasury announced that it will buy back up to $6 billion in longer-dated US Treasuries, below expectations of at least $10 billion.
European government bond yields are moving higher today. The 10-year German bund yield climbed to a new 15-year high of 3.433% and is up +6.4 bp to 3.430%. The 10-year UK gilt yield is up +7.5 bp to 5.248%.
French July manufacturing production unexpectedly fell -0.8% m/m, weaker than expectations of a +0.4% m/m increase.
Markets are discounting a 100% chance of a +25 bp ECB rate hike at Thursday’s policy meeting.
US Stock Movers
Chipmakers and AI-infrastructure stocks are moving higher today, a positive factor for the overall market. Marvell Technology (MRVL) is up more than +5%, and Advanced Micro Devices (AMD) and Micron Technology (MU) are up more than +3%. Also, ARM Holdings (ARM), Western Digital (WDC), and SanDisk (SNDK) are up more than +2%. In addition, Intel (INTC) and Qualcomm (QCOM) are up more than +1%.
Energy producers and service providers are moving higher today, with WTI crude up more than +3% at a 3.25-month high. APA Corp (APA) is up more than +2%, and ExxonMobil Holdings (XOM), Occidental Petroleum (OXY), ConocoPhillips (COP), and SLB Ltd (SLB) are up more than +1%. Also, Chevron (CVX) is up more than +1% to lead gainers in the Dow Jones Industrials.
ServiceTitan (TTAN) is down more than -30% after reporting a Q2 EPS loss of -26 cents, a bigger loss than the consensus of -25 cents.
Casy’s General Stores (CASY) is down more than -14% to lead losers in the S&P 500 after reporting a Q1 gross margin of 21.8%, below the consensus of 22.3%.
Chewy (CHWY) is down more than -7% after forecasting a sequential decline in Q3 gross margin, due to a timing shift as certain rebate benefits shifted from the second half of the year into Q2.
Smithfield Foods (SFD) is down more than -6% after cutting its Q3 earnings outlook, citing “continued compression in the industry fresh pork market spread and lower hog prices.”
Booking Holdings (BKNG) is down more than -4% to lead losers in the Nasdaq 100 after losing an EU court fight over its takeover of Sweden’s Etraveli Group, when a judge said regulators were right to conclude that the planned buyout threatened fair competition.
Dyne Therapeutics (DYN) is down more than -2% after JPMorgan Chase downgraded the stock to underweight from neutral with a price target of $10.
Meta Platforms (META) is up more than +6% to lead gainers in the S&P 500 and Nasdaq 100 after analysts reported positive reviews of the company’s debut of Muse, an AI assistant.
Chime Financial (CHYM) is up more than +5% after boosting its full-year revenue forecast to $2.76 billion to $2.77 billion from a previous forecast of $2.73 billion to $2.75 billion, stronger than the consensus of $2.74 billion.
Dell Technologies (DELL) is up more than +3% after Evercore ISI raised its price target on the stock to $650 from $575.
Earnings Reports (9/9/2026)
AeroVironment Inc (AVAV), Chewy Inc (CHWY), Cooper Cos Inc/The (COO), Core & Main Inc (CNM), SailPoint Inc (SAIL), Sunbelt Rentals Holdings Inc (SUNB).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart