New TradFi Equity Perps are coming soon! Trade the following contracts on Binance Futures with up to 10x leverage: 🔸 Uber (UBERUSDT) 🔸 Cisco (CSCOUSDT) 🔸 Oracle (ORCLUSDT) 🔸 Walt Disney (DISUSDT) 🔸 Home Depot (HDUSDT) 🔸 Lumentum Holdings (LITEUSDT) Know more 👉

What's moving pre-market 1. Iran sent its reply to the US peace proposal 2. Lumentum +5%, joining Nasdaq-100 on May 18 3. OKLO insiders dumped $49M before the decade peak 4. Moderna +9% on a confirmed US Hantavirus case 5. Iraqi crude tanker traverses Hormuz (despite the noise)

## Earnings Wrap-Up ### **AMD (Buy) | TP: $511** * **Guidance slightly beat expectations ($11.2bn vs. $10.5bn Bloomberg consensus, Buy side $10.96b). ***Server CPU TAM** now projected at >35% CAGR. AMD’s leadership will be further strengthened by Venice and a diversified CPU portfolio. ***Progress on **MI455/Helios** remains on track. * **Outlook:** Some investors were a bit cautious before the print; additionally, the frequent demand upward revision misled analysts’ near-term estimates. That said, the pause before the print could further boost the share price outperformance. Overall, we remain bullish ### **Lumentum (LITE - Buy) | TP: $1,168** * **Slightly below** FY3Q revenue ($808m) slightly missed buy-side targets, and F4Q’s $985m below buy sides $1bn, though gross margins expanded to **47.9%**. * **Key Drivers:** Laser supply remains structurally tight as demand outpaces capacity. OCS is gaining momentum via multi-year agreements. * **Outlook:** While the FY4Q guidance led to a brief after-hours pull-back, earnings power is expected to scale dramatically into CY2027. ### **Supermicro (SMCI - Hold) | TP: $43** * **Shares jumped 18% after hours following a strong Gross Margin beat. * **Key Drivers:** Margin gains were driven by a better customer mix (enterprise) and fewer low-margin GB300s. * **Outlook:** While margins are expected to remain elevated, the rating remains **Hold** due to uncertain top-line growth and limited visibility on new GB300 bookings.

$LITE Q3’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $808M (Est. $809M) 🟡; +90% YoY 🔹 EPS: $2.37 (Est. $2.27) 🟢; +316% YoY 🔹 Gross Margin: 47.9% (Est. 45.2%) 🟢 🔹 Operating Margin: 32.2% 🔹 Cash, Cash Equivalents & Short-Term Investments: $3,172.3M Q4 FY26 Guide: 🔹 Revenue: $960M (Est. $935M) 🟢; +100% YoY 🔹 EPS: $2.85-$3.05 (Est. $2.74) 🟢; +1% to +8% YoY 🔹 Operating Margin: 35.0%-36.0% Other Metrics: 🔹 Series A Convertible Preferred Stock Issuance: Contributed approximately $2.0B to cash in March 2026 🔹 Acquisition: Business acquired in March 2026, details not disclosed 🔹 Restructuring Charges: $1.1M in Q3 FY2026 related to reduction in force 🔹 Cloud Light Escrow Settlement: $27.5M completed during nine months ended March 28, 2026 Commentary: 🔸 “Lumentum delivered an exceptional third quarter, with revenue growing 90% year over year to a record $808 million.” 🔸 “While our top line growth continues to garner headlines, the more impressive part of our recent performance has been our margin expansion.” 🔸 “In fiscal Q3, gross margin improved by 540 basis points on quarter and operating margin by 700 basis points.”

JUST IN: Stanley Druckenmiller just updated his portfolio This is everything Duquesne Family and Stanley Druckenmiller owned as of the end of Q1 Natera $NTRA: $576.7M Taiwan Semiconductor $TSM: $201.2M STMicroelectronics $STM: $161.1M YPF Sociedad Anonima $YPF: $142.0M Insmed $INSM: $126.3M Brazil ETF $EWZ: $124.6M BBB Foods $TBBB: $113.6M NewAmsterdam Pharma $NAMS: $109.2M Sea Limited $SE: $96.8M Roku $ROKU: $93.2M Alcoa $AA: $92.9M Broadcom $AVGO: $83.7M Teva Pharmaceutical $TEVA: $82.1M Woodward $WWD: $73.6M Sandisk $SNDK: $54.1M Figure Technology $FIGR: $51.2M Revolution Medicines $RVMD: $46.0M Intel $INTC: $44.9M Coupang $CPNG: $43.5M Humana $HUM: $42.1M Seagate $STX: $40.6M CRH $CRH: $39.0M Lattice Semiconductor $LSCC: $39.0M Bloom Energy $BE: $38.6M Option Care Health $OPCH: $36.5M Twilio $TWLO: $36.0M Restaurant Brands $QSR: $34.6M Global X MSCI Argentina ETF $ARGT: $33.7M Jabil $JBL: $28.2M Caris Life Sciences $CAI: $28.1M Wabtec $WAB: $25.0M United Airlines $UAL: $24.6M Cleveland-Cliffs $CLF: $23.8M Arm Holdings $ARM: $22.5M iShares GSCI Commodity $GSG: $22.0M Southern Copper $SCCO: $21.7M Linde $LIN: $20.9M Unity Software $U: $20.4M Nuvation Bio $NUVB: $20.1M Qnity Electronics $Q: $19.8M Micron Technology $MU: $17.2M Protagonist Therapeutics $PTGX: $16.4M Coherent $COHR: $15.8M Belite Bio $BLTE: $15.2M Olema Pharmaceuticals $OLMA: $13.4M Xenon Pharmaceuticals $XENE: $13.0M ADMA Biologics $ADMA: $12.8M StubHub Holdings $STUB: $12.2M PureCycle Technologies $PCT: $12.1M Amazon $AMZN: $12.1M Celestica CLS: $12.0M Daktronics DAKT: $10.7M Cloudflare NET: $10.4M Twist Bioscience TWST: $10.1M LyondellBasell LYB: $9.9M Vista Energy VIST: $9.8M JBS JBS: $8.9M EchoStar SATS: $8.3M Almonty Industries ALM: $8.2M DBV Technologies DBVT: $7.5M Lumentum LITE: $6.8M Solstice Advanced Materials SOLS: $5.3M MercadoLibre MELI: $4.3M Westlake WLK: $1.9M Wave Life Sciences WVE: $1.2M