In the stock market today, the Nasdaq and S&P 500 closed down -0.25% and -0.29% due to concerns about overspending in AI infrastructure. AMD, however, gained +9% as CEO Lisa Su reassured investors about revenue growth. Quantum computing stocks like QBTS and IONQ fell, while the Dow hit an all-time high at 48K.

Cisco reported better-than-expected earnings in Q1, with earnings of $1.00 per share and revenues of $14.88 billion. The company raised guidance for next quarter and the full fiscal year, leading to a 6% increase in shares in late trading.

Tomorrow, expect Disney and Applied Materials to report fiscal Q4 results. Disney’s earnings are projected to decline, while Applied Materials is expected to see decreases in both earnings and revenue. Both companies are aiming to continue their earnings beat streaks.

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