Earnings Today: AMD, Super Micro and Arista Report After the Close on Election Day

Tuesday is Election Day, and the market is open. Between the polls, a heavy earnings slate runs in two waves — and the after-close wave is a stress test for the AI hardware trade two weeks after Intel's weak guide knocked the whole chip complex down.

The headliner: AMD, after the close. AMD guided third-quarter revenue to approximately $13 billion, plus or minus $300 million — about 41% growth at the midpoint — with non-GAAP gross margin around 56%. Consensus sits slightly above the guide, near $13.1 billion of revenue and roughly $1.94 a share. The stock fell 10.9% on Friday to $504.80 in the chip selloff, so the print lands with the shares already marked down: data-center growth and the MI450 ramp commentary matter more than the headline beat or miss. The call is at 5 p.m. ET, as the first polls close.

Super Micro, after the close. Super Micro already moved its own bar: on October 20 it raised preliminary fiscal first-quarter revenue to $18.5–19.5 billion, from earlier guidance of $14.5–15.5 billion, and lifted its preliminary gross margin estimate to 12.0–12.5% from 10.4–10.8%. The revenue story is AI server demand; the open question is how much profit a ~12% gross margin business keeps, and what cash flow looks like after a $4 billion guidance raise.

Arista Networks, after the close. The cloud networking name carries consensus of $1.08 a share on $3.33 billion of revenue, up roughly 44% year over year, and an eight-quarter streak of beating the EPS estimate. With hyperscaler capex still the tide under every AI name, Arista's guide is a clean read on data-center networking demand. Booking Holdings and Amgen also report after the close, alongside Astera Labs and Block — Booking's call is at 4:30 p.m. ET.

Before the bell this morning. Pfizer is the heavyweight: consensus is about $0.73 a share on $15.85 billion of revenue, down from $0.87 on $16.65 billion a year ago, with full-year guidance set at $2.80–3.00 a share. The quarter is judged on whether non-COVID products can keep offsetting the pandemic revenue fade. Shopify reports with the holiday-quarter outlook as the whole story, and Eaton, Progressive, Marathon Petroleum, Apollo and Ferrari round out the morning calendar.

What to watch tonight. Three of the after-close names — AMD, Super Micro and Arista — are the same AI build-out read from three angles: chips, servers and networking. After the late-October selloff, tonight is where the demand story either re-asserts itself or does not. Qualcomm and Arm follow tomorrow after the close. Consensus figures above are analyst-estimate tallies from earnings calendars and previews; company guidance is as stated by each company. This is a news summary, not investment advice.