Qualcomm shares jump as AI sparks rebound in Chinese smartphone market [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
The Philadelphia Semiconductor index rose 1.4 per cent, following a 3.5 per cent drop on Wednesday on dour results from chip firms Advanced Micro Devices and Super Micro Computer . According to preliminary data from research firm IDC, in the high-end segment, the AI buzz and the foldable products allowed the Android smartphone vendors to further differentiate themselves from Apple and garnered increased interest from Chinese consumers in the first quarter of 2024. “We're optimistic that numbers can be driven higher, given last year's muted Android cycle and the likelihood of IoT(internet of things) improvement as inventory normalizes,” analysts at Wolfe Research said. At least 14 analysts raised their price targets on Qualcomm, according to LSEG data. Qualcomm's shares were up 9.7 per cent at $180.31 in early trading, set to add to the 13.5 per cent gain this year. Shares of Apple, which is set to report earnings after market closes on Thursday, were up 1.2 per cent. Sign
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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