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The Nasdaq Composite reached a new high, with notable stock movements including a 1.2% rise for Microsoft and a 27% increase for Meta Platforms over the past three months. Advanced Micro Devices saw a 7% drop in after-hours trading despite a strong earnings report, while Eli Lilly and other pharma companies are set to report soon. Homebuilders are struggling, with the SPDR S&P Homebuilders ETF down 8.6% since mid-October, reflecting rising yields impacting the sector.
AMD reported strong third-quarter results driven by robust sales in the data center and PC markets. However, shares dropped over 7% in after-hours trading as investors anticipated quicker growth in the AI chip sector. A long-term perspective is encouraged for potential investors.
S&P 500 futures rose as Alphabet's shares jumped 5% following strong earnings, exceeding expectations with $88.27 billion in revenue. The Nasdaq Composite hit a record high, driven by tech stocks, while investors await GDP growth data expected at 3.1% for Q3. Chipotle's mixed results led to a 3% dip in shares, and Chewy fell nearly 2% after meme stock leader Keith Gill dissolved his stake.
AMD reported record revenue of $6.8 billion for Q3, an 18% increase year-over-year, driven by strong data center sales, particularly in Epyc CPUs and Instinct GPUs. However, the forecast for Q4 disappointed investors, estimating revenue at $7.5 billion amid supply chain constraints. The gaming segment struggled, with a 69% revenue drop, while net income rose 33% to $1.5 billion.
AMD reported third-quarter earnings of 92 cents per share on $6.82 billion in revenue, slightly exceeding expectations, but shares fell 6% due to cautious fourth-quarter guidance. The data center business saw a 122% year-over-year revenue increase, driven by strong AI chip sales, while gaming revenue plummeted 68%. Despite a 20% rise in shares this year, AMD lags behind competitors like Nvidia and Broadcom in AI chip market gains.
Advanced Micro Devices Inc. has issued a disappointing revenue forecast of approximately $7.5 billion for the fourth quarter, falling short of analysts' expectations of $7.55 billion. This has raised concerns about the slower-than-anticipated growth in its artificial intelligence sales, alongside a predicted adjusted gross margin that also misses projections.
The global artificial intelligence (AI) chips market, valued at $7.7 billion in 2022, is projected to surge to $174.7 billion by 2032, growing at a CAGR of 36.6%. This growth is driven by the increasing adoption of AI across various sectors, including healthcare and automotive, and the rise of edge computing and IoT devices. Key players like Intel, NVIDIA, and IBM are leading the market, focusing on innovative chip designs and strategic partnerships to enhance their competitive edge.
The Philadelphia Semiconductor Index (SOX), valued at $7500 billion, is heavily reliant on Nvidia, which accounts for 47% of the index's market cap at $3520 billion. Recent performance has been weak, and a potential correction in Nvidia could significantly impact the SOX index, indicating a fragile market position.
Advanced Micro Devices (AMD) shares attempted stabilization mid-week after a decline, following a lowered forecast from ASML. The stock tested the medium-term 100-day line but held as support. A large triangle pattern has formed, with potential upward movement if prices close the gap at USD 165.27, while a continued correction below USD 155.98 could lead to further declines.
Camilla Languille was elected to the Board of Directors of GlobalFoundries in September 2024. As Co-Deputy CEO of Mubadala Investment Company's Direct Investments Platform, she focuses on private equity and manages a diverse portfolio, including healthcare and semiconductors. With a strong background in mergers and acquisitions, she has played a key role in building Mubadala's healthcare and semiconductor investments and currently serves on several boards, including PCI Pharma and Evotec.
Advanced Micro Devices, Inc.
Companies
| Symbol | AMD |
| Name | Advanced Micro Devices, Inc. |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Semiconductors & Semiconductor Equipment |
| Industry | Semiconductors & Semiconductor Equipment |
| Market | NASDAQ Global Select |
| Country | United States |
| State | CA |
| City | Santa Clara |
| Zipcode | 95054 |
| Website | http://www.amd.com |
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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