markets

6/24/25

Why Ives says a defanged Iran is extra bullish for tech stocks

Wedbush Securities analyst Dan Ives is out with an interesting take on why a potential ceasefire between Israel and Iran is especially good news for his coverage area: tech stocks.

(Note: the fires do not appear to have fully ceased in the Middle East, but traders appear to be treating this matter as closed.)

Ives recalls the slew of multibillion-dollar deals struck in May between entities in Saudi Arabia as well as the UAE, with America’s AI heavy hitters like Nvidia, Oracle, Advanced Micro Devices, and Super Micro Computer proof positive that the Middle East is aiming to position itself as a major player in the sovereign AI push.

“The biggest threat to the region and the potential ‘black swan event’ was Iran and its nuclear program... and now that threat is gone,” he wrote. “With a weakened Iran and no nuclear capabilities, there is a growing view from tech investors that the opportunity for the Middle East to embrace the tech and AI boom is now on the doorstep being led by Saudi and UAE.”

He recommends taking advantage of any geopolitical-induced discounts on his favorite AI names, which include Nvidia, Palantir, Microsoft, Amazon, Oracle, Meta, and Tesla.

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2h

RH slips after missing Q2 estimates and trimming its outlook amid cost pressure

Restoration Hardware shares dropped Friday morning after the luxury furniture brand missed Q2 estimates and tightened its full-year outlook.

Adjusted earnings per share came in at $2.93, below the Street’s estimate of $3.21. Revenue was $899.2 million, also missing analysts’ forecast of $905 million.

RH now expects full-year revenue growth of 9% to 11%, down from prior guidance of 10% to 13%, as margins get squeezed by tariffs and weakness in the housing market. Wall Street had been looking for about 10% growth this year.

The retailer is taking steps to blunt cost pressures, including shifting sourcing away from China. RH expects receipts to fall from 16% in Q1 to 2% in Q4, with vendors absorbing a meaningful portion of the tariff impact. RH is also boosting US manufacturing capacity in North Carolina and pushing back a new concept launch to next spring.

RH shares are down about 43% year to date.

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4h

Super Micro rises as the company begins shipments of Nvidia Blackwell chips

Super Micro Computer jumped over 6% in premarket trading on Friday after the company announced it has started shipping “Plug-and-Play (PnP)-ready” racks powered by Nvidia’s new Blackwell Ultra chips, giving data center customers a ready-made option to scale up their AI infrastructure.

The rollout enables what SMCI calls “turn-key day-one” operations, with the entire racks preassembled and tested to work out of the box.

“Data center customers face many AI infrastructure challenges: complex network topology and cabling, power delivery, and thermal management,” CEO Charles Liang said. “Through Supermicro Data Center Building Block Solutions with our expertise in on-site deployment, we enable turn-key delivery of the highest-performance AI platform — critical for customers seeking to invest in cutting-edge technology.”

The company says the new system’s performance jumps up to 7.5x over Nvidia’s previous-generation chips. It’s also designed to run more efficiently, using less power and water while taking up less floor space, cutting the overall operating costs by 20%, according to the statement.

The launch comes after a rocky August, when SMCI’s shares plunged on weaker-than-expected quarterly results and management trimmed its annual revenue target.

Investors in Super Micro have endured much volatility this year, as the company has failed to deliver on multiple occasions. Even so, the shares are up nearly 50% year to date.

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