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Investors may be wondering if it's time to buy the post-earnings dip in AMD (AMD) and Super Micro Computer's (SMCI) stock as both are AI leaders.
Semiconductor stocks were up on Thursday after largely having slipped this last month. Nvidia NVDA was up over 2.0% at the time of writing.
Despite the slide, the outlook for the semiconductor sector is promising and given the diversification benefits of ETFs, investors may want to consider the recent slump a buying opportunity.
Microsoft's recent earnings release beat analysts' forecasts on multiple counts. Meanwhile, AMD is making headway with its new AI GPUs.
Advanced Micro Devices stock (NASDAQ NASDAQ : AMD) recently published its Q1 2024 results which were slightly better than expected. While net income came in at $123 million compared to a net loss in the year-ago period, revenue was up about 2% from a year earlier to $5.47 billion.
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Large-cap growth funds have been in the sweet spot for a few years now, thanks to megacap tech holdings.
AMD reported Q1 sales and earnings yesterday that beat the average Wall Street target. But performance still fell short of higher-end estimates, and growth was relatively low.
Artificial intelligence is expensive for the companies buying AI chips, and it's expensive for the companies making them, too.
AMD matched expectations and sees modest revenue growth in the second quarter. Data center growth is strong, but the gaming and embedded segments are lagging.