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AI Semiconductor Stocks Take a Hit: What’s Next？
Chip manufacturer $Advanced Micro Devices (AMD.US)$ released its financial report after the market closed on Wednesday, its stock price dropped by over 10% in after-hours trading. Additionally, following a media report on Wednesday, shares of $Super Micro Computer (SMCI.US)$ plummeted by more than 34% at the opening.
AMD's Results Fall Short of Expectations
$Advanced Micro Devices (AMD.US)$ reported a third-quarter revenue increase of 18% to $6.82 billion, surpassing the average expectation of $6.71 billion.
However, $Advanced Micro Devices (AMD.US)$ reported fourth-quarter revenue expectations of approximately $7.5 billion, slightly below the analysts' average estimate of $7.55 billion. Although the company currently anticipates that sales of its so-called AI accelerators will exceed $5 billion this year, up from the previous forecast of $4.5 billion, some analysts and investors may be hoping to see AMD make a more significant breakthrough in market share against NVIDIA.
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@tinker 2（ID: 102133230）
“The earnings report is solid, and I remain bullish, ready to buy in the 140-145 range! Also , I just found that Cathie Wood bought more shares of AMD today. Please fly!!!”
@Neve lose（ID: 102136172）
“I remain optimistic about both of these trends. Coupled with the technical support levels, if the Fed cuts rates by 25 bp in Nov., we could see a rebound of at least 10%.”
Ernst & Young Refuses to Audit Super Micro Computer
Media reports indicate that Ernst & Young LLP has resigned from its auditing role for Super Micro Computer. According to an 8-K filing submitted by Super Micro on Wednesday, Ernst & Young raised concerns about the company's commitment to integrity and ethics.
Super Micro Computer stated that it disagrees with the accounting firm's decision and does not believe that "resolving any of the matters raised by Ernst & Young" will lead to a restatement of financial reports for fiscal year 2024 or prior quarters. The company has begun searching for a new auditing firm.
$Super Micro Computer (SMCI.US)$ is set to release its earnings report after the market closes on November 5,ET, a date that also coincides with a key moment in the U.S. elections.
Currently, analysts expect the company to achieve revenue of $6.453 billion in Q1 2025, representing a year-over-year increase of 204.43%. The specific performance of the earnings report is worth our attention. Earlier this year, the company’s stock price quadrupled, but since then, market enthusiasm has begun to wane.
@KimDoDo金多多（ID: 104772945）
“don't be afraid, the auditor has already resigned on the 24th, it was last week's news”
@LeoforDharma（ID: 104189658）
“I lost trust in this Company, whether it moves up or down, its an entity not worth paying attn for me.”
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Focus on Intel's performance
Intel is scheduled to release its earnings report after the market closes today, ET. As losses in its contract manufacturing business continue to mount, Wall Street estimates that Intel's revenue for the third quarter ending September 30 will decline by 8%, marking the largest revenue drop in five quarters.
Since the company's disastrous report released in August this year, many investors have begun to doubt this established tech company. Its stock price has dropped over 50% year-to-date, and its market capitalization has fallen below $100 billion.
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