Josh Gilbert, market analyst at eToro Group Ltd, shares his three things to watch in Australia in the coming days.
RBA rate decision
The RBA will be making its second-to-last rate decision for the year on Tuesday, and there’s not much optimism left for a cut. Last week’s stronger-than-expected inflation print almost certainly pushes back the expectation of any more rate cuts before the year’s end.
Q3 CPI came in hot across the board, reinforcing that price pressures are proving hard to shake. Those pressures are broad-based, led by a sharp lift in housing and health, the fastest pace since 2022 for several key categories in the CPI basket. That means a hold tomorrow; putting rate-sensitive sectors under pressure, but supporting the Aussie Dollar.
Michele Bullock and her team have already been clear that they are in no rush, and it’s clear that getting inflation under control will take longer than anticipated. Until there’s more compelling proof that inflation is trending lower, the board will sit tight, and rates won’t be moving for now.
Palantir earnings
Palantir will post its Q3 results later today, with monumental expectations of 50% growth in earnings.
The company posted a very impressive Q2 result, prompting Palantir management to issue the highest sequential quarterly growth guidance ever. It was a bold move that rallied support from markets for sure, but one that has also ratcheted up expectations of a blockbuster Q3. Growth continues to be fuelled by expanding use cases for Palantir’s AIP platform as commercial demand accelerates.
Even if Palantir delivers on its ever-escalating expectations, investors are seeing cracks; the company is heavily reliant on US business and government contracts – both of which have proved lucrative but are relatively limited in future growth prospects. Many are going to want to see how Palantir plans to expand its global proposition this time around. The challenge is also its rich valuation; it’s priced to perfection, so anything but a big result will leave the market disappointed.
Still, it remains a market darling; Palantir Technologies was among the most held stocks on the eToro platform in AU in Q3, coming in 10th. It also had one of the largest QoQ increases in holders in Q3, with a 16% increase in holders. And those investors have been handsomely rewarded for owning the stock, with shares up over 165% in 2025 alone.
AMD earnings
AMD posts its Q3 results after market this Tuesday, and while the chipmaker is often seen as the next best thing to market darling NVIDIA, that hardly tells the whole story.
While it’s true that AMD’s market performance often reflects NVIDIA’s in broad strokes, it still stands on its own. It has been enjoying a stellar run this year, up over 100%, in particular thanks to its comparably low GPU price, an attractive point of difference amidst the ongoing AI boom, where use cases are mounting and hardware shortages are a constant threat.
Its recent partnership with OpenAI has been another major boost, with the deal expected to generate tens of billions in annual revenue as AMD supplies GPUs to help power OpenAI’s growing compute needs. It’s a landmark agreement that reinforces AMD’s position as a credible challenger in the AI hardware race.
There is a hurdle here, and it fits with the pattern we saw in last week’s big tech earnings; even a hint of uncertainty in the results or the outlook may cause investors to sell. While AI demand continues to hold steady, supply chains can create uncertainty – combine that with a US and China trade standoff that’s far from resolved, and the risks are clear, even with a strong result on the cards.