Large-cap technology and AI-linked stocks dominated Wall Street's top gainers last week, with companies in semiconductors, cybersecurity, and digital infrastructure leading gains. Tower Semiconductor surged 28.48% after beating earnings and securing a $1.3 billion contract, while Cisco jumped 22.4% on strong results and analyst upgrades. Other notable gainers included Rocket Lab (18.08%), Palo Alto Networks (16.76%), and Applied Optoelectronics (25.36%).

Global semiconductor stocks retreated after Trump and Xi's summit failed to announce major chip agreements or breakthroughs on NVIDIA's China business. Key developments include Taiwan Semiconductor's $31.28B capital spending approval for AI chip manufacturing, Meta offering free WhatsApp access to competing AI developers to resolve EU antitrust concerns, Trump Mobile delivering delayed $499 smartphones, and the Elon Musk vs. OpenAI trial concluding with closing arguments. Notable earnings included strong results from Applied Materials, Cisco, and Tower Semiconductor, while Alibaba reported mixed results and Birkenstock faced margin pressures.

Tower Semiconductor surged nearly 30% this week following strong Q1 earnings that beat analyst expectations on both revenue ($413.6M, +15% YoY) and net income. The company also provided bullish Q2 guidance of $455M and announced $1.3B in silicon photonics contracts with major clients. Two analysts significantly raised their price targets, citing the company's strong growth potential in AI-related photonics technology.

Aeluma (ALMU) experienced a ~35% stock price correction following Q3 earnings miss due to delayed government contracts, not fundamental issues. The company continues advancing its commercialization strategy with new partnerships for quantum dot laser manufacturing. Despite dilution concerns, analysts and institutions view the dip as a buying opportunity, with support levels near $23.50 and price targets around $25. Key catalysts include improving customer demand driven by AI and growing patent portfolio.

Tower Semiconductor shares surged 18% after issuing an upbeat growth forecast driven by strong demand for its silicon photonics technology used in AI infrastructure. The company reported 62% net profit growth to $65 million with expanding margins, projects 22% revenue growth to $455 million in Q2, and secured $1.3 billion in photonics contracts for 2027. Management reaffirmed its 2028 targets of $2.8 billion in revenue and $750 million in net profit.

Tower Semiconductor (TSEM) surged 26% in April, driven by its leadership in silicon photonics for AI networking, positive sentiment from major chipmaker earnings reports, and a new customer win to produce defense industry chips. The stock has gained 486% over the past year but trades at a lofty 71.3x earnings.

Tower Semiconductor announced its participation in four major investor conferences scheduled for May and June 2026, including the Oppenheimer Israeli Conference, TD Cowen Technology Conference, Craig-Hallum Institutional Investor Conference, and Mizuho Global Tech Conference. The company will offer one-on-one meetings with investors at these events.

Tower Semiconductor (NASDAQ: TSEM) stock gained 4.22% in premarket trading Monday following an announcement with Axiro Semiconductor about delivering high-performance radar beamforming integrated circuits for U.S. defense applications. The chips, fabricated at Tower's U.S. facilities, are ramping to volume production and set new performance benchmarks, potentially driving design wins in secure foundry services for defense customers.

Tower Semiconductor and Axiro Semiconductor announced the availability of high-performance radar beamforming integrated circuits (BFICs) built on Tower's SiGe technology and fabricated in Tower's U.S. facilities. The devices are designed for next-generation defense radar and satcom applications, strengthening domestic U.S. defense supply chains. The BFICs are ramping to volume production and set new performance benchmarks for modern defense systems.

Aeluma received a $4 million U.S. government contract to accelerate its semiconductor heterogeneous integration platform, triggering a bullish market response likely driven by short-covering. The company's quantum dot laser technology addresses AI data bottlenecks. Revenue remains minimal (~$1.35M expected in Q3 2026), with significant ramp not anticipated until late 2028. Analyst consensus targets $25, representing 25% upside from mid-April levels, though execution risk remains high.

Tower Semiconductor will release Q1 2026 earnings on May 13, 2026, and hold a conference call to discuss results and Q2 guidance. The company announced plans to expand 300mm capacity in Japan through its TPSCo joint venture to support strong customer demand, particularly for optical and photonics platforms.

Tower Semiconductor surged 31.5% this week driven by AI infrastructure enthusiasm and silicon photonics growth. The company announced a partnership with Oriole Networks for AI networking solutions and unveiled new BCD power management technology. Industry momentum was bolstered by Lumentum's impressive long-term revenue forecast at the Optical Fiber Communications Conference, signaling explosive growth potential for silicon photonics in AI data centers.