AMD, Super Micro tumble as earnings fall short of lofty AI expectations

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 38 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 63%

Advanced Micro Devices Nouvelles

Super Micro Computer,Nvidia,Generative AI

Its forecast of $4 billion in AI chip sales for 2024 fell short of Wall Street's lofty expectations, having been used to Nvidia's massive forecasts over the ...

- Shares of Advanced Micro Devices and Super Micro Computer sank on Wednesday, sparking a selloff in chip stocks, after their earnings disappointed investors who have piled into the sector on hopes rising AI investments would boost demand.

Super Micro Computer, whose near-200% stock jump this year has outpaced even gains in Nvidia, tumbled over 11% as its third-quarter revenue missed estimates amid questions over the profitability of a new line of servers.Executives of both AMD and Super Micro Computer said supply constraints were hampering their efforts to capitalize on demand for equipment powering the boom in generative AI.

Other AI-linked chip firms also traded lower, with Marvell Technology, Micron Technology and Nvidia down between 1.5% and 2.5%. "Against a very large AI computing TAM , we believe AMD is well on the way to cementing its position as the de facto alternative to Nvidia's leadership position," analysts at TD Cowen said.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 47. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Super Micro Computer stock sinks, bitcoin trades higher ahead of halving: Yahoo FinanceShares of Super Micro Computer (SMCI) are plunging after the server company announced its third quarter earnings date, but didn’t pre-announce its results...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »

Futures fall as chip stocks drag, Fed rate decision awaitedAdvanced Micro Devices shed 6.3% in premarket trading after its forecast for AI chip sales failed to impress investors, while Super Micro Computer lost 9.1% ...
La source: YahooFinanceCA - 🏆 47. / 63 Lire la suite »