MarketCatalystCerebras shares fell below their $185 IPO price this week as a SemiAnalysis report questioning OpenAI's hardware choice collided with a major lockup expiration and tens of millions in insider stock sales — even as the company's $25.4 billion backlog gives some analysts reason to see the selloff as overdone.
Seagate fell as much as 11% and Western Digital 7% after Nikkei reported Toshiba plans to double its data-center HDD capacity by fiscal 2027 — raising fears that the tight supply behind both stocks' huge 2026 rallies is about to loosen.
A wave of Wall Street price-target hikes followed Micron's blowout fiscal Q4 report, with Rosenblatt setting a Street-high $1,900 target as analysts point to an AI memory "hypercycle," a secured 2027 revenue backlog, and blockbuster forward guidance.
Synopsys shares jumped as much as 7% after the company unveiled GPT-Synopsys, a chip-design AI model built with OpenAI, alongside a new multi-year plan targeting 15% annual revenue growth and a $1 billion near-term buyback.
Micron beat fiscal Q4 estimates on both lines, with EPS of $33.42 topping consensus by $1.70 and revenue up 379% year-over-year to $54.23 billion — then guided next quarter's numbers well above what Wall Street was expecting.
The S&P 500 sits near record highs while Meta and AMD (+29.1% each) do the heavy lifting — only about one in four stocks traded above their 50-day average in September, and the equal-weight ETF fell roughly 4.5% even as the headline index held firm.