AMD, Dell, HPE lead tech stocks with top momentum scores

The U.S. International Trade Commission (ITC) is investigating Micron (MU), Supermicro (SMCI), and HPE (HPE) for potential patent infringement of Netlist (NLST) memory technology. Netlist seeks exclusion and cease-and-desist orders. Shares of MU, SMCI, and HPE traded lower, with SMCI down 3.4%. Netlist's CEO cited a recent Samsung settlement as a benchmark for its IP value. Micron previously won a legal case against Netlist, invalidating five patents.

Micron Technology (MU) has gained 270% this year. Citi raised its price target to $1,300, citing strong DRAM pricing and tight supply. Q3 revenue was $41.45B, up 345% YoY. Analysts expect Q4 revenue of $51.2B and EPS of $31.56. The stock's outlook depends on future guidance for NAND and DRAM markets.

Analysts upgraded Applied Materials (AMAT) citing AI-driven demand and undervaluation, while downgrading Tesla (TSLA) over automotive stagnation and margin pressure. AMD was also downgraded due to a high P/E ratio without comparable growth.

The Fed raised interest rates by 25 basis points, with all FOMC members voting in favor. Initially, the S&P 500 and Nasdaq showed little reaction, but later slumped. Markets recovered in the last hour, except for the Dow Jones, which fell 1.2%. Fed Chair Kevin Warsh suggested a 25 bps hike in November, less than markets expected. Tech stocks Lumentum, Coherent, Intel, and Nvidia saw gains.

Acer's Jason Chen claims memory chip shortages are over, citing increased Chinese production. He argues dominant suppliers (Samsung, SK Hynix, Micron) signal coordination to maintain prices. Chen expects price declines by mid-2027, with Chinese chips already in products from Acer, HP, Asus, and Lenovo. He links memory price hikes to inflation, urging Fed attention.

Northland Capital Markets downgraded AMD to 'Market Perform' with a $260 price target, citing competition from Intel and NVIDIA. AMD shares fell 3% on Monday. The company reports Q1 earnings on May 5, with revenue and EPS estimates at $9.88B and $1.28, respectively. DA Davidson upgraded AMD to 'Buy' with a $375 price target, citing Intel's performance.