AI stocks plunge after AMD gives weak forecast for chip sales [Yahoo! Finance]
Super Micro Computer, Inc. (SMCI)
Last super micro computer, inc. earnings: 8/3 04:05 pm
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US:NASDAQ Investor Relations:
ir.supermicro.com/investor-relations
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Source: Yahoo! Finance
AMD said it expects its MI300 AI chips to generate $4 billion in revenue in 2024, which was below some Wall Street forecasts. Shares of Super Micro Computer, AMD, and Nvidia erased a collective $143 billion in market value. AI stocks plunged on Wednesday after AMD offered analysts 2024 revenue guidance for its AI chip that was below analyst estimates. Shares of AMD fell 10%, helping drag down its peer Nvidia by about 5% in Wednesday trades. Meanwhile, Super Micro Computer , which sells AI-enabled servers using products from Nvidia and AMD, dropped 15% after it reported mixed earnings results. The three companies wiped out a collective $143 billion in market value in Wednesday's trading session. AMD's failure to meet Wall Street's lofty AI sales expectations led to concerns that AMD is suffering from a demand problem, though AMD CEO Lisa Su dismissed those concerns and said that supply is the bigger issue for its AI chip sales. "We are tight on supply. So there's no questi
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SMCI
News
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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