Live Nasdaq Composite: Tech Stocks Recapture Momentum in Swift Upward Swing
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Deal or No Deal
President Trump threw cold water on Iran’s latest peace overture Friday, telling reporters at the White House he remains unsatisfied with the proposal despite Tehran’s apparent eagerness to come to the table. “Iran wants to make a deal, but I’m not satisfied with it,” Trump said, adding that Iran’s military has been effectively neutralized. The President offered that Tehran is seeking concessions he simply cannot accept. The development comes after Pakistani officials in Islamabad, who have been playing a mediating role in back-channel talks, confirmed that Iran had submitted a revised proposal to end the two-month-old conflict with the U.S. and Israel.
The Nasdaq Composite has widened its lead, now up 1% on the day.
TEAM Gainer
Atlassian (Nasdaq: TEAM) rocketed over 20% Friday after blowing past Wall Street’s fiscal Q3 targets across the board. The software company delivered adjusted EPS of $1.75 against a $1.32 consensus and revenue of $1.79 billion, topping the $1.69 billion estimate, with cloud growth and data center revenue powering the beat. The strong showing comes after a punishing stretch, as Atlassian has been one of the steeper casualties of the broader SaaS selloff, with shares still sitting over 45% in the red year to date heading into the print.
Tech Deal
Nebius Group (Nasdaq: NBIS) is planting its flag in the AI efficiency space, snapping up Eigen AI, a startup focused on squeezing more performance out of chips running AI inference tasks, in a transaction worth approximately $643 million. The market likes the move, with Nebius shares surging 9% on the news.
This article will be updated throughout the day, so check back often for more daily updates.
The Nasdaq Composite is stepping into May on the strongest possible footing, having just posted a 15% gain in April, its best monthly performance since April 2020. Yesterday’s session added nearly 1% to cap the run, boosting the tech-heavy index to record territory. The baton has passed to Apple and SanDisk, whose after-the-bell prints are the dominant forces shaping Friday’s open. Earnings are now commanding the narrative. Oil prices are easing, with WTI Crude down 1.25% on the day to hover at $103.80/barrel amid indications that Iran has returned to the negotiating table.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: 49,900 Up 0.50%
Nasdaq Composite: 25,109 Up 0.92%
S&P 500: 7,264 Up 0.77%
Market Movers
Apple (Nasdaq: AAPL) is the anchor of today’s market move. Fiscal Q2 revenue of $111.184 billion grew 17% year over year, with EPS of $2.01 clearing the $1.94 consensus. iPhone revenue alone came in at $56.994 billion, and CEO Tim Cook described demand for the iPhone 17 lineup as overwhelming. The board sweetened the deal further with a fresh $100 billion buyback authorization and a 4% dividend increase, while guidance for 14% to 17% revenue growth this quarter ran comfortably ahead of what the Street was penciling in. Shares climbed more than 3% in premarket trading.
SanDisk (Nasdaq: SNDK) delivered the session’s most jaw-dropping number. Q3 revenue of approximately $6 billion surged 251% year over year, powered by a Datacenter segment that exploded 645%. EPS of $23.41 obliterated the $14.66 estimate, and CEO David Goeckeler framed the results as a defining turning point for AI memory demand. The stock is up 362% year to date. On the M&A front, Nebius announced plans to acquire Eigen AI in a deal valued at more than $640 million, with shares jumping over 6% on the news.
Earlier this week, the drag side of the ledger was fueled by AI spending fears. Meta Platforms (Nasdaq: META) closed Thursday down 9% after stretching its 2026 capex range to $125 to $145 billion. Microsoft (Nasdaq: MSFT) shed 4% on AI spending anxieties. Nvidia slipped 5% Thursday in the same capex-driven rotation despite sitting on an 83% year-to-date gain. Alphabet (Nasdaq: GOOGL) bucked the trend, surging 10% Wednesday on the back of Google Cloud revenue of $20.03 billion, a 63% year-over-year jump that gave investors exactly the revenue validation they were demanding.
Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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