Key Takeaways
- President Trump declared the "Iran war has been won" while maintaining a "100% effective" blockade of the Strait of Hormuz, despite reports of active air defense engagements over Tehran.
- Amgen (AMGN) and Western Digital (WDC) both delivered significant earnings beats, with WDC boosting its quarterly dividend by 20% and AMGN raising its full-year guidance.
- Rivian (RIVN) maintained its 62,000–67,000 vehicle delivery guidance for the year and announced a 50% capacity boost at its Georgia plant, despite a slight Q1 revenue miss.
- AWS announced it will sunset Amazon Q Developer IDE plugins by April 2027, transitioning users to Kiro, a new agentic development environment built for spec-driven development.
- The Nasdaq Composite closed unofficially higher by 0.90% at 24,894.40, buoyed by strong tech earnings and optimistic commentary regarding the economic impact of AI.
Geopolitical Tensions and the "Iran War"
President Trump stated on Thursday that the United States has effectively won the war against Iran, though he signaled a desire to "win by an even bigger margin" through continued pressure. The President emphasized that the blockade of the Strait of Hormuz has been "100% effective," cutting off all Iranian oil revenue and causing the domestic economy to collapse. Despite these claims of victory, reports from Tasnim and Mehr News indicated that air defense batteries over Tehran were actively engaging small drones and surveillance UAVs late in the day.
The human and financial costs of the conflict are coming into clearer focus, with US officials estimating the war's cost at approximately $50 billion. In response to the regional instability, the UAE Foreign Ministry has banned its citizens from traveling to Iran, Lebanon, and Iraq, urging those currently in those countries to depart immediately. To bolster regional defenses, Israel has reportedly rushed a laser defense system to the UAE to counter potential Iranian missile threats.
Amgen and Western Digital Post Strong Gains
In the healthcare sector, Amgen (AMGN) reported Q1 revenue of $8.62 billion, edging out the $8.57 billion estimate. The company’s adjusted EPS of $5.15 significantly outperformed the $4.75 forecast, prompting management to lift its full-year adjusted EPS guidance to a range of $21.70–$23.10. The positive outlook reflects strong demand across its core portfolio and disciplined cost management.
Western Digital (WDC) also impressed investors with Q3 revenue of $3.34 billion and adjusted EPS of $2.72, beating the $2.39 consensus. The company provided robust Q4 revenue guidance of $3.65 billion and announced a 20% increase to its quarterly dividend. Analysts view the dividend hike as a sign of confidence in the recovery of the memory and storage markets.
Mixed Results for High-Growth Tech
Reddit (RDDT) shares saw positive momentum after posting Q1 EPS of $1.01, nearly doubling the $0.58 estimate. The platform reported 126.8 million daily active uniques, surpassing expectations and guiding Q2 revenue to $715–$725 million. Conversely, Roblox (RBLX) reported a beat on the bottom line with an EPS of -$0.35, but missed on user growth with 132 million daily active users against a 140.9 million estimate.
Meanwhile, Meta has reportedly informed staff that further rounds of layoffs remain a possibility, as the company continues to "flatten" its organizational structure. In the cloud space, AWS is pivoting its developer tool strategy by sunsetting Amazon Q Developer plugins in favor of Kiro, an agentic environment purpose-built for spec-driven development. AWS clarified that the developer experience within the AWS Management Console will remain unaffected by this transition.
Rivian Maintains Outlook Amid Expansion
Rivian (RIVN) reported Q1 revenue of $1.38 billion, slightly below the $1.39 billion expected, but posted a narrower-than-expected adjusted loss per share of $0.54. The EV maker delivered 10,365 vehicles in the quarter and reaffirmed its full-year delivery target of 62,000–67,000 units. Most notably, the company has boosted the initial capacity of its Georgia manufacturing plant by 50%, targeting an eventual 200,000 units to meet long-term demand.
On the policy front, the White House has authorized the transport of crude oil and petroleum products between the United States and Canada, a move intended to stabilize energy flows. President Trump predicted that gasoline prices will "drop like a rock" once the conflict in Iran is fully resolved, reiterating his stance that Tehran will never be permitted to acquire a nuclear weapon.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.