Ten stocks boasted double-digit gains on Friday, outperforming a mixed performance in the broader market, as investors digested a flurry of corporate earnings while positioning portfolios ahead of more.
On Wall Street, only the Nasdaq and the S&P 500 finished in the green, up 1.63 percent and 0.80 percent, respectively. The Dow Jones, on the other hand, dipped by 0.16 percent.
Indices aside, we spotlight the 10 top-performing stocks on Friday and detail the reasons behind their gains.
To come up with the list, we focused on the stocks with a $2 billion market capitalization and 5 million shares in trading volume.
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10. EOS Energy Enterprises Inc. (NASDAQ:EOSE)
Shares of EOS Energy bounced back by 10.68 percent on Friday to close at $7.67 apiece, as investors have repositioned portfolios ahead of the results of its earnings performance for the first quarter of the year.
According to EOS Energy Enterprises Inc. (NASDAQ:EOSE), it is scheduled to report its financial and operating highlights before market open on May 13. A conference call will be organized to elaborate on the results.
The rally can be partly attributed to the broader optimism for the battery sector, with utility-scale players seen to reap the benefits of the ongoing demand from technological advancements.
Additionally, uncertainties on a peace deal between the US and Iran make non-oil and gas players more attractive, with households and businesses switching to other alternatives for their energy needs to minimize risks from the volatility in oil prices.
In other news, EOS Energy Enterprises Inc. (NASDAQ:EOSE) earlier this month partnered with TURBINE‑X Energy, Inc. for the development and deployment of a private power infrastructure for AI—a new model designed to deliver firm, dispatchable energy for hyperscale data centers and other mission-critical loads on accelerated timelines.
Under the agreement, TURBINE-X is targeting up to 2 GWh of energy storage systems from EOS Energy Enterprises Inc. (NASDAQ:EOSE) across a defined project pipeline over the next 36 months. Initial deployments are targeted for 2027.
9. Qualcomm Inc. (NASDAQ:QCOM)
Qualcomm rebounded by 11.12 percent on Friday to finish at $148.85 apiece, as investors began loading portfolios ahead of next week’s earnings outcome.
In a notice on its website, Qualcomm Inc. (NASDAQ:QCOM) said that it is scheduled to report its earnings performance for the second quarter of fiscal year 2026 after market close on Wednesday, April 29. A conference call will be held to elaborate on the results.
For the period, Qualcomm Inc. (NASDAQ:QCOM) is targeting to report revenues of $10.2 billion to $11 billion, an implied decline of 7 percent or nearly flat from the $10.98 billion registered in the same period last year.
GAAP diluted earnings per share are projected at $1.69 to $1.89, or an implied decline of 25 percent to 33 percent from the $2.52 year-on-year.
Despite a weak outlook, Friday’s rally can be attributed primarily to the surging demand for semiconductors from the artificial intelligence sector.
According to a report from the Semiconductor Industry Association (SIA) earlier this month, global semiconductor sales in February soared by 61.8 percent to $88.8 billion from $54.9 billion in the same month last year, and by 7.6 percent from the $82.5 billion in January 2026.
“Global chip sales remained very strong in February, exceeding January’s totals and far outpacing sales from February of last year,” SIA President and CEO John Neuffer said
“Sales into the Asia-Pacific region, the Americas, and China were all major drivers of year-to-year growth. Strong global demand is expected to persist during the remainder of the year, with annual sales projected to reach roughly $1 trillion globally,” he noted.
8. Advanced Micro Devices Inc. (NASDAQ:AMD)
Advanced Micro Devices extended its winning streak to a 4th consecutive day on Friday to hit a new all-time high, after an investment firm turned bullish for its stock, raising its rating and price target by 70 percent.
In a market note, DA Davidson recommended investors to “buy” shares of Advanced Micro Devices Inc. (NASDAQ:AMD), having been neutral previously. It also upgraded its price target to $375 from $220, or a 7 percent upside potential from its latest closing price.
Advanced Micro Devices Inc. (NASDAQ:AMD) climbed to its highest price of $352.99 in intra-day trading on Friday, before paring gains to finish the session up by 13.91 percent at $347.81 apiece.
According to DA Davidson, the coverage reflected its optimism for the listed firm’s increasing role in the accelerating data center buildout, citing a “structural increase in CPU demand.”
DA Davidson also pointed to Intel Corp.’s strong first-quarter earnings results as a signal that the CPU market is accelerating.
“We view Intel’s results as a precursor for a huge step-up for AMD’s CPU franchise and believe the structural shift toward [agentic] AI workloads is creating unprecedented demand for server CPUs,” DA Davidson said.
With CPU demand likely outstripping supply in the foreseeable future, Advanced Micro Devices Inc. (NASDAQ:AMD) can boost prices across its portfolio and widen profit margins, it noted.
Advanced Micro Devices Inc. (NASDAQ:AMD) is set to announce the results of its earnings performance in the first quarter of the year on May 5.
7. Arm Holdings plc (NASDAQ:ARM)
Arm Holdings climbed to a new all-time high on Friday after a seven-day winning streak, as investors took heart from bullish coverage for the CPU market, supported by Intel Corp.’s strong earnings performance in the first quarter of the year.
In intra-day trading, Arm Holdings plc (NASDAQ:ARM) climbed to its highest price of $237.68 before paring gains to finish the session just up by 14.76 percent at $234.81 apiece.
The rally can be attributed primarily to DA Davidson’s optimism for the CPU market, thanks to stronger-than-expected results from Intel Corp., which signaled that the industry is reaccelerating. Another competitor, Advanced Micro Devices Inc., also surged following the news.
DA Davidson said that the CPU market “reinserting itself as an indispensable foundation of the AI era,” as workloads now shift to agentic AI, which could spark demand growth for the CPU players.
In other news, Arm Holdings plc (NASDAQ:ARM) said that it is scheduled to release the results of its earnings performance for the fourth quarter of fiscal year 2026 after market close on Wednesday, May 6. A conference call will be held to elaborate on the results.
For the period, Arm Holdings plc (NASDAQ:ARM) is targeting a revenue growth of 18.45 percent to $1.47 billion, plus or minus $50 million, versus the $1.24 billion in the same period last year.
Meanwhile, non-GAAP fully diluted earnings per share are pegged at $0.58, plus or minus $0.04, or an implied growth of 5.45 percent from the $0.55 year-on-year.
6. Applied Optoelectronics Inc. (NASDAQ:AAOI)
Applied Optoelectronics snapped a three-day losing streak on Friday, surging 17.74 percent to close at $162.17 apiece, as investors repositioned their portfolios ahead of the results of its first-quarter earnings performance.
In a notice to investors, Applied Optoelectronics Inc. (NASDAQ:AAOI) said that it is scheduled to release the results of its earnings performance for the first quarter of the year after market close on May 7, 2026. It will hold a conference to discuss the results and its outlook for the second quarter.
For the first quarter, Applied Optoelectronics Inc. (NASDAQ:AAOI) is targeting to report revenues in the range of $150 million to $165 million, or an implied growth of 50 percent to 65 percent from the $99.9 million in the same period last year.
However, it expects to incur a net loss of $300,000 to up to $7 million, versus a $900,000 net loss in the same period a year earlier.
In other news, Applied Optoelectronics Inc. (NASDAQ:AAOI) last week announced plans to expand its manufacturing site by 388,000 square feet with the addition of two buildings in Pearland, Texas.
The said developments are on top of the 210,000-sqft facility currently under development near its 135,000-sqft Sugar Land headquarters, as well as the recently leased 154,000-sqft building at Blue Ridge Commerce Center.
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