Astera Labs surges after earnings

Astera Labsis surging after issuing strong Q2 results after the close Tuesday.

The San Jose maker of chips, boards, and integrated circuits used to build data servers reported:

Adjusted earnings per share of $0.44 vs. Wall Street expectations for $0.32, per FactSet.
Sales of $192 million vs. an expected $172 million.
Adjusted EPS guidance of $0.38 to $0.39 a share in Q3 vs. the $0.34 Wall Street expected before the report was issued.

The stock’s romp Wednesday adds to a momentous turnaround for the shares, which were hammered by the Trump administration’s tariff policies earlier this year. (Astera’s production is outsourced primarily to contract manufacturers in China, Taiwan, and South Korea.)

Astera Labs’ stock is rocketing. Why analysts predict even more gains for the AI chip play.

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SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

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