Five stocks vulnerable as US 10-year yield tops 5%

The US 10-year Treasury yield climbed to 5.03% on Tuesday, its highest level since 2007. Rising oil prices, renewed inflation concerns and expectations of further Federal Reserve tightening drove a government bond selloff. Higher yields raise the discount rate investors use to value earnings expected later in the decade and increase borrowing costs for companies.

CoreWeave depends on large upfront spending to expand data-center capacity. The company secured an $8.5 billion loan in March and has taken equity and debt commitments to about $28 billion over the past year. Bernstein analyst Madison Rezaei views CoreWeave as the most exposed name in coverage because of its contracted but unsold power capacity.

Marvell faces duration risk despite a sizable long-term market opportunity for its custom-chip connectivity and networking products. Bank of America analyst Vivek Arya estimates that opportunity at roughly $30 billion by the end of the decade. When Treasury yields exceed 5%, cash flows projected years out have lower present value and investors may demand higher returns before paying premium multiples.

AMD’s growth case depends on share gains across server CPUs, AI accelerators and agentic-computing infrastructure. Stifel analyst Ruben Roy remained confident after meetings with company executives and maintained a Buy rating and a $635 target. Higher yields increase the need for clearer near-term evidence that forecast AI revenue and market-share gains will arrive on schedule.

Nvidia leads the AI compute market and currently benefits from strong demand. Piper Sandler analyst David O’Connor estimates Nvidia holds about an 80% market share and notes ongoing supply constraints. Strong near-term performance reduces immediate vulnerability, but a higher discount rate allows investors to apply lower valuation multiples to long-term earnings.

Tesla’s longer-term opportunities in autonomous trucking, Semi software, robotaxis and other mobility services are expected to deliver revenue farther in the future. Morgan Stanley analyst Andrew Percoco characterizes Tesla as an emerging competitor in autonomous trucking. Higher yields reduce the present value of those distant profit streams and can keep consumer auto-financing costs elevated.

Analysts and investors plan to watch upcoming earnings reports, capital-raising moves and signs of demand for AI infrastructure and autonomous services to test whether companies can meet the timelines assumed in current valuations.