Ten stocks soared higher on Wednesday, with some climbing to record highs, as investors took heart from a flurry of strong earnings and upbeat outlook, coupled with renewed hopes for the official end of the US-Iran war.
Wall Street’s three major indices all finished in the green, led by Nasdaq, up 2.02 percent, followed by the S&P 500, increasing 1.46 percent, and the Dow Jones growing 1.24 percent.
Indices aside, this article focuses on the 10 top-performing stocks on Wednesday, alongside the reasons behind their gains.
To come up with the list, we considered the stocks with a $2 billion market capitalization and 5 million shares in trading volume.
The New York Stock Exchange building. Photo by Дмитрий Трепольский on Pexels
10. Advanced Micro Devices Inc. (NASDAQ:AMD)
Advanced Micro Devices soared to a new all-time high on Wednesday, following the strong results of its earnings performance in the first quarter of the year, with profits nearly doubling, thanks to the rapidly growing artificial intelligence sector.
In intra-day trading, the stock climbed to its highest price of $430.57 before trimming gains to end the session just up by 18.61 percent at $421.39 apiece.
Advanced Micro Devices Inc. (NASDAQ:AMD) said that it raked in $1.383 billion in net income for the first quarter of the year, or a growth of 95 percent from the $709 million in the same period last year, primarily driven by the strong demand from AI infrastructure and data centers. Revenues, on the other hand, increased by 38 percent to $10.25 billion from $7.4 billion year-on-year.
“We delivered an outstanding first quarter, driven by accelerating demand for AI infrastructure, with Data Center now the primary driver of our revenue and earnings growth,” Advanced Micro Devices Inc. Chairman and CEO Lisa Su said.
“We are seeing strong momentum as inferencing and agentic AI drive increasing demand for high-performance CPUs and accelerators. Looking ahead, we expect server growth to accelerate meaningfully as we scale supply to meet demand. Customer engagement around MI450 Series and Helios is strengthening, with leading customer forecasts exceeding our initial expectations and a growing pipeline of large-scale deployments providing us with increasing visibility into our growth trajectory,” she noted.
For the second quarter of the year, Advanced Micro Devices Inc. is targeting to grow its revenues by 46 percent at the midpoint, to $11.2 billion, plus or minus $300 million.
At present, the company carries a “strong buy” rating from 35 Wall Street analysts.
9. Flywire Corp. (NASDAQ:FLYW)
Flywire jumped to a new 52-week high on Wednesday, as investors resumed buying positions following a strong earnings performance that pushed the company to profitability in the first quarter of the year.
At intra-day trade, the stock climbed to a record high of $17.78 before trimming gains to finish the session just up by 20.51 percent at $17.51 apiece.
In its earnings statement, Flywire Corp. (NASDAQ:FLYW) said that it swung to a net income of $12.5 million in the first quarter of the year from a net loss of $4.16 million in the same period last year.
Revenues, meanwhile, increased by 41 percent to $188.1 million from $133.5 million year-on-year, on the back of a 36.5 percent jump in total payment volumes and more than 200 new client wins during the period.
“We started 2026 with a strong first quarter—above expectations on revenue and adjusted EBITDA, with new client wins across all four verticals. The results reflect what we have been building toward: a durable, scalable business, diversified across verticals and geographies—and one that is increasingly resilient and increasingly profitable,” said Flywire Corp. CEO Mike Massaro.
Looking ahead, the company is targeting growth of 18 to 24 percent in foreign exchange-neutral revenues, less ancillary services, for both the second quarter and the full-year 2026 periods.
Meanwhile, adjusted EBITDA margin is expected to grow by 175 to 375 basis points for 2026, and by up to 150 bps for the second quarter of the year.
8. Bitdeer Technologies Group (NASDAQ:BTDR)
Bitdeer Technologies rallied for a 5th straight session on Wednesday, climbing 20.99 percent to close at $15.10 apiece, as investors resumed buying positions ahead of the results of its earnings performance for the first quarter of the year.
In a notice to investors, Bitdeer Technologies Group (NASDAQ:BTDR) said that it is scheduled to report its financial and operating highlights before market open on Thursday, May 14, to be followed by a conference call to elaborate on the results.
The rally was supported by news earlier this month that March was a pivotal milestone for the company, driven by accelerating demand from AI customers, with its cloud business achieving approximately $43 million in annual recurring revenues, or 105 percent higher than in February.
“This momentum underscores both the scale of the market opportunity and our ability to execute effectively in delivering high-performance AI infrastructure,” Bitdeer Technologies Group Chief Business Officer Matt Kong said.
“Looking ahead, we remain confident that demand for AI infrastructure will continue to grow. With our expanding capacity, proven execution, and clear strategic direction, we expect our AI cloud revenue to further accelerate in the coming months,” he noted.
AI aside, Bitdeer Technologies Group self-mined 661 Bitcoins in March, an increase of approximately 480 percent year-on-year, thanks to a higher hash rate of around 70 EH/s.
7. Joby Aviation Inc. (NYSE:JOBY)
Joby Aviation snapped a two-day winning streak on Wednesday, soaring 21.20 percent to finish at $10.52 apiece, as investors took heart from its strong revenue performance in the first quarter, helped by an upbeat outlook for the full-year period.
In a letter to the shareholders, Joby Aviation Inc. (NYSE:JOBY) said that it raked in revenues of $24.2 million in the first quarter of the year, versus none in the same period last year.
Net loss widened by 33 percent to $109.9 million from $82.4 million in the same comparable period, primarily due to a $95 million increase in total operating expenses in line with its ongoing expansion.
Looking ahead, Joby Aviation Inc. maintained its revenue growth outlook of 98 percent to 117 percent for full-year 2026, to a range of $105 million to $115 million, versus only $53 million last year, backed by announcements earlier in the year that it has been selected as a partner in multiple applications under the White House-backed Electric Vertical Takeoff and Landing (eVTOL) Integration Pilot Program (eIPP).
Through the program, Joby Aviation Inc. has bagged an opportunity to begin early operations this year in Arizona, Florida, Idaho, New Jersey, New York, North Carolina, Oklahoma, Oregon, Texas, and Utah.
6. Geo Group Inc. (NYSE:GEO)
Geo Group snapped a two-day losing streak on Wednesday, jumping 20.92 percent to finish at $22.20 apiece, as investors cheered its strong earnings performance and highly optimistic outlook for full-year 2026.
In an updated report, Geo Group Inc. (NYSE:GEO) said that it grew its net income in the first quarter of the year by 96 percent to $38.3 million from only $19.5 million in the same period last year. Revenues increased by 16 percent to $705 million from $606.6 million year-on-year.
“We are very pleased with our first quarter results and improved full year outlook. Our strong performance has been driven by the new growth opportunities we captured in 2025 and are normalizing in 2026,” Geo Group Inc. Chairman and CEO George Zoley said.
For the full-year period, Geo Group Inc. raised its net income growth forecast to a range of $153 million to $166 million, versus the $132.5 million to $145.5 million previously. However, the figure remained lower by 34.7 to 39.8 percent versus the $257.49 million posted last year.
“Last year was the most successful period for new business wins in our company’s history, with new or expanded contracts representing up to $520 million in annualized revenues. We expect 2026 to be very active as well and therefore believe that we have upside potential across our diversified business segments,” Zoley said.
5. Super Micro Computer Inc. (NASDAQ:SMCI)
Super Micro bounced back by 24.50 percent on Wednesday to finish at $34.66 apiece, as investor sentiment was boosted by its stellar earnings performance in the third quarter of fiscal year 2026.
In an updated report, Super Micro Computer Inc. (NASDAQ:SMCI) said that its net income in the quarter ending March 2026 soared by 343 percent to $483 million from only $109 million in the same period last year. Net sales more than doubled to $10.2 billion from $4.6 billion year-on-year.
“Supermicro’s transformation into a total datacenter infrastructure provider is accelerating,” Super Micro Computer Inc. President and CEO Charles Liang said.
“Our margin recovery and the rapid growth of our DCBBS business demonstrate that our business remains robust. With the addition of our new US manufacturing facilities in Silicon Valley, we are exceptionally well-positioned to meet the massive demand for various AI and enterprise verticals,” he noted.
For the fourth quarter ending June, the company expects net sales to grow by 90 percent to 118 percent, to a range of $11 billion to $12.5 billion, versus $5.8 billion in the same period last fiscal year.
For the full fiscal year, net sales are projected to be at $38.9 billion to $40.4 billion, or an implied growth of 77 percent to 83.6 percent from the $22 billion year-on-year.
4. Veeco Instruments Inc. (NASDAQ:VECO)
Veeco Instruments soared to a new 25-year high on Wednesday, following news that it bagged $250 million worth of equipment orders from multiple customers riding the AI wave.
At intra-day trade, the stock soared to a record high of $65.41 before trimming gains to end the session just up by 25.17 percent at $62.01 apiece.
In a statement, Veeco Instruments Inc. (NASDAQ:VECO) said that it received orders for its Spector Ion Beam Deposition (IBD), Lumina Metal Organic Chemical Vapor Deposition (MOCVD), and WaferEtch Wet Processing systems, which are all essential in the production of Indium Phosphide (InP) lasers.
A substantial portion of the orders was for the Spector IBD from leading manufacturers of 800G and 1.6T optical transceivers. Deliveries are targeted to begin this year.
Orders aside, Veeco Instruments Inc. announced on the same day that it swung to a net loss of $300,000 from a $11.9 million net income in the same period last year. Revenues also dropped by 5 percent to $158.3 million from $167.3 million year-on-year.
Commenting on the performance, Veeco Instruments Inc. CEO Bill Miller said that the company “executed well in the first quarter” as the industry enters a transformational period driven by rapid expansion of AI data centers and high-performance computing.
The firm is targeting its revenues to pick up by 2 percent to 14 percent, to a range of $170 million to $190 million year-on-year.
3. Compass Inc. (NYSE:COMP)
Compass soared by 27.27 percent on Wednesday to finish at $9.24 apiece, after swinging to profitability in the first quarter of the year.
In an updated report, Compass Inc. (NYSE:COMP) said that it incurred an attributable net income of $22 million in the first three months of the year, reversing a $51 million net loss in the same period last year.
Revenues nearly doubled to $2.7 billion from only $1.356 billion year-on-year, primarily due to the addition of Anywhere Real Estate’s revenues.
Compass Inc. Chief Executive Officer Robert Reffkin said that the strong performance was supported by the continued discipline in operating expenses (opex), as well as growth in health revenues.
Looking ahead, the real estate technology company expects its revenues in the second quarter of the year to jump by 94 percent to 104 percent to a range of $4 billion to $4.2 billion.
Adjusted EBITDA is also targeted to hit a range of $310 million to $350 million, or an implied growth of 146 percent to 178 percent from the $125.9 million in the second quarter last year.
“Looking ahead, we remain acutely focused on opex control, executing against our cost synergy targets, and generating cash flow to de-lever our balance sheet,” Compass Inc. Chief Finance Officer Scott Wahlers said.
2. Hut 8 Corp. (NASDAQ:HUT)
Hut 8 rallied to a new all-time high on Wednesday, as investors took heart from its strong performance in the first quarter of the year, with revenues more than tripling year-on-year.
In an updated report, Hut 8 Corp. (NASDAQ:HUT) said that revenues jumped by 226 percent to $71 million from only $21.8 million in the same period last year, with growth primarily driven by its computing business, raking in $66 million, followed by power with $3.7 million, and $1.3 million from digital infrastructure.
However, the company widened its net loss by 88.8 percent to $253 million from $134 million in the same comparable period.
“In the first quarter of 2026, we continued to execute against our conviction that power is the foundational layer for the next generation of energy-intensive technologies, and that those who secure it at scale will build and compound a durable competitive advantage. That conviction has produced a contracted revenue base of $16.8 billion underpinned by triple-net, take-or-pay data center leases with 597 MW of IT capacity across two hyperscale AI campuses, and diversified blue-chip, investment-grade counterparties,” Hut 8 Corp. CEO Asher Genoot said.
“Our initial lease at Beacon Point demonstrates how our distinct power-first development model is repeatable across tenants and geographies. We identified a site that incumbents and peers overlooked and delivered a lease structured on the same triple-net, take-or-pay terms that defined our first AI data center lease at River Bend. Within five months, we have more than doubled our contracted capacity and secured $9.8 billion in incremental base-term contract value,” he noted.
With River Bend data center advancing toward the second quarter of 2027 delivery target, Hut 8 Corp. said that it continues to focus on scaling its platform.
1. Flex Ltd. (NASDAQ:FLEX)
Flex extended its winning streak to a 6th straight session on Wednesday, to hit a new all-time high, as investors took heart from its strong earnings performance and news that it would spin off its cloud and power infrastructure business into a new publicly-traded firm.
At intra-day trading, the stock soared to its highest price of $134.99 before trimming a few cents to finish the session just up by 39.69 percent at $134.73 apiece.
In an updated report on the same day, Flex Ltd. (NASDAQ:FLEX) said that it grew its net income for fiscal year 2026 by 5 percent to $880 million from $838 million in fiscal year 2025. Net sales grew by 8 percent to $27.9 billion from $25.8 billion year-on-year.
In the fourth quarter alone, net profit increased by 12.6 percent to $250 million from $222 million, while net sales increased by 17 percent to $7.5 billion from $6.4 billion in the same comparable period.
Looking ahead, Flex Ltd. is targeting to grow its net sales for the first quarter of 2027 ending June by 14 percent at the midpoint to a range of $7.35 billion to $7.65 billion, while for full fiscal year 2027, net sales are projected at $32.3 billion to $33.8 billion, or an implied jump of 18 percent at the midpoint.
In other news, Flex Ltd. said that it would separate its cloud and infrastructure business into a new independent publicly-listed company, in line with plans for the two firms to focus on their core businesses.
“By creating two focused, independent companies, we are giving SpinCo (spinoff company) the platform to build and scale the products and digital infrastructure that the world’s most demanding AI workloads depend on, and Flex the focus to deliver advanced manufacturing solutions at a global scale for diversified industries. We believe each company will have the strategic clarity and dedicated leadership to drive exceptional outcomes for its respective customers and shareholders. I’m excited to be part of the journey for both companies,” Flex Ltd. CEO Revathi Advaithi said.
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