Chipmakers and networking giants see divergent stock movements amid earnings reports

Cerebras Systems shares surged before the US market opened following the announcement of sales guidance that significantly surpassed analyst expectations. The chipmaker also disclosed new agreements with both Oracle and Microsoft, although investor attention remains focused on a potential delay in the execution of its contract with OpenAI. Conversely, Cisco Systems experienced a decline in early trading after the networking equipment provider revealed a 21% increase in product orders for fiscal 1Q. This figure, however, indicated a deceleration compared to the preceding period. Meanwhile, Applied Materials saw its stock climb slightly after the company released fourth-quarter results that exceeded forecasts. Furthermore, AMAT provided an outlook for adjusted first-quarter earnings that was stronger than what had been anticipated.