AMD, Super Micro shares tumble as earnings fall short of lofty AI expectations [Globe and Mail, The (Toronto, Canada)]
Super Micro Computer, Inc. (SMCI)
Last super micro computer, inc. earnings: 8/3 04:05 pm
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Source: Globe and Mail, The
“Stepping back, AMD has several customers who are all trying to ramp MI300 (AI chip) very quickly. This is stressing the supply chain to a certain extent,” said analysts at TD Cowen. “However, from a demand perspective, customer engagement is in fact increasing, not only for MI300X but its successor products.” Other AI-linked chip firms also traded lower, with Marvell Technology down 1.5 per cent and Nvidia falling 1.7 per cent. The stocks have widely outperformed the benchmark S&P 500 index this year and powered a 11 per cent jump in the Philadelphia Semiconductor Index. Several analysts were still positive on AMD, saying easing supply chain constraints should allow the company to increase its share of the AI chip market and potentially reap billions of dollars in revenue. At least 10 analysts lowered their price target on AMD, while eight raised their view, according to LSEG data. Super Micro saw three price target increases and two cuts. Sign up for the Lately Newslett
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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