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

Halifax Regional Police release Dartmouth suspect’s name and photo | SaltWire #news #novascotia - 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.

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%.

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AMD, Super Micro tumble as earnings fall short of lofty AI expectationsIts 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 ...
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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...
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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% ...
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