Breakfast News: Tesla’s Slow Wheels, Fast Dreams

Tesla (TSLA) slipped after beating earnings, a sign the market is pricing the company on its pivot to AI and robotics rather than EV sales. The beat did not hold the stock.

Meta (META) moved the other way, surging on success of its AI assistant and 26% revenue growth. Interpretation: investors are paying for AI monetization they can see in reported numbers, while Tesla's AI story still reads as a long-dated promise.

IBM (IBM) stabilized mainframe demand, a steadier note against the volatility elsewhere.

The broader AI complex faces pressure, with chip stocks down 15% over three weeks. That slide frames every AI-linked earnings reaction, and it helps explain why good prints are not guaranteed to lift shares.

Corning (GLW) offers a counterpoint, with a $355 per share target tied to strong data center demand. The call suggests some analysts still see AI infrastructure spending supporting parts of the supply chain even as chip names sell off.

Three companies report earnings today, with FIX, BE and KNSL on the earnings radar in this cycle.