May 08, 2024 (MENAFN via COMTEX) --
(MENAFN - Baystreet) Starbucks Reeling From Post-Earnings Plunge
Massive Investment Surge in Digital Infrastructure to Support AI Expansion
Lithium's Future Looks Bright: Demand Expected to Surge by 1,500% by 2050 According to IEA Data
WOW Flat on Q1 Results
Urban Edge Hikes on Q1 Figures Previous Articles Subscribe to Get Small Cap News & Alerts Chris Lau - Wednesday, May 8, 2024
Qualcomm a Winner, AMD and SMCI are Down for Now
Last week, markets responded positively to smartphone semiconductor supplier Qualcomm (QCOM). Shares jumped from $165 to close near $180 last week. QCOM stock is a winner.
Qualcomm enjoyed product success. The Snapdragon 8 Gen 3 is driving strong demand, helped by the Android smartphone and automotive sector.
In the second fiscal quarter, Qualcomm earned $2.44 a share non-GAAP. Revenue rose slightly, up by 1.3% Y/Y to $9.39 billion. The firm expects Q3 EPS of up to $2.35.
Markets recognize that the firm's advancements in on-device AI and 5G will fuel its growth. The company launched the Qualcomm AI Hub and Snapdragon X80 modem.
In the PC gaming and server AI market, AMD disappointed investors. Its promise to post strong revenue growth from server AIs failed to offset a sharp drop in gaming-related hardware sales. Gaming revenue fell by 48% Y/Y to $922 million, hurt by the console cycle now in its fifth year. Gaming PC GPUs will require a rise in demand for the Radeon RX 7900 GRE series.
Super Computer Micro (SMCI) traded as low as $700, down from $850 the week before. The firm posted the expected strong quarterly results. SMCI stock is down for now but should rebound. It guided $8 per share in its fourth quarter. Still, the firm needs to sell $3.28 billion in convertible notes and secondary equity offerings. This hurts its shareholders.
About Us Contact Us Advertise License Our Content Jobs Disclaimer Privacy Policy
Copyright 1998 - 2024 Baystreet Media Corp. All rights reserved. Nasdaq Stocks: Information delayed 15 minutes. Non-Nasdaq Stocks: Information delayed 20 minutes. Bid and Ask quotation information for NYSE and AMEX securities is only available on a real time basis. Market Data is provided by QuoteMedia. Earnings by Zacks. Analyst Ratings by Zacks
MENAFN08052024000212011056ID1108187581
COMTEX_452079011/2604/2024-05-08T15:49:48
