AI chip darling AMD struggles to impress Wall Street this earnings season [Yahoo! Finance Canada]
Super Micro Computer, Inc. (SMCI)
Last super micro computer, inc. earnings: 8/3 04:05 pm
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Source: Yahoo! Finance Canada
The chipmaker reported it expects current quarter revenue in a range of $5.4 billion to $6 billion, in line with Wall Street's estimates for $5.7 billion. But shares fell more than 9% Wednesday morning, reflecting that in line reports might not be enough for AI investors after more than a 70% run up in AMD stock over the past year. Specifically, Wall Street analysts noted that the outlook for AI growth within AMD might not be as robust as some had hoped. ADVERTISEMENT In a note cutting his price target to $185 from $195, Bank of America research analyst Vivek Arya wrote that AMD bulls might've been disappointed in the company's forecast for MI300 chips in 2024, which came in at $4 billion. While an increase from the prior guide of $3 billion, Arya noted that it felt short of more optimistic outlooks for a range of $5 to $6 billion. This comes in contrast to Nvidia's recent run of AI dominance where the company has consistently surprised Wall Street's lofty expectations. "
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SMCI
Earnings
- 4/30/24 - Beat
SMCI
Sec Filings
- 5/14/24 - Form 4
- 5/14/24 - Form 4
- 5/14/24 - Form 4
- SMCI's page on the SEC website