The Exchange Semiconductors Soar, Apple's AI Fumble, and Former FDIC Chair Bair 5/6/26
May 6, 2026
Michael Hurlston, CEO of Lumentum, explains his company’s role in AI infrastructure and optical connectivity for hyperscalers. Sheila Bair, former FDIC chair and financial literacy author, discusses banking regulation, private credit risks, AI in banking, and views on Fed leadership. Stacey Rasgen, Bernstein semiconductor analyst, breaks down AMD vs NVIDIA, supply-chain constraints, and a possible semiconductor supercycle.
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AMD Has A Real Path To Big EPS Upside
- AMD's CPU and GPU businesses together create a credible path to materially higher EPS, potentially reaching about $20 by 2028.
- Stacey Rasgen cites AMD pulling forward analyst-day targets and data center CPU growth as the basis for a 25% upside case.
This Semiconductor Rally Feels Like A True Super Cycle
- Semiconductor gains are broad-based across analog, memory, power semis and AI-related names, not just a few winners.
- Stacey Rasgen argues demand-driven secular and cyclical recoveries make this the first legitimate super cycle in her 20-year career.
US Proposes Phased Iran Deal With Open Nuclear Talks
- White House proposing phased negotiations with Iran: one-page memo to end the war, 30 days to negotiate tougher issues like the nuclear program.
- Megan Casella cautions Iranians haven't agreed and key red lines remain uncertain.
