Why Is AMD Stock Spiking Premarket Thursday?
Portfolio Pulse from Shanthi Rexaline
AMD stock spiked in premarket trading on Thursday, following Nvidia's Q1 earnings and revenue beat, and strong guidance for Q2. Nvidia's robust demand for data center products, driven by generational AI products, is seen as a positive for AMD, which also has a presence in the segment.
May 25, 2023 | 9:19 am
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AMD stock spiked in premarket trading due to Nvidia's strong Q1 earnings and data center demand, which is seen as a positive for AMD's presence in the segment.
AMD's stock price is likely to go up in the short term due to the positive sentiment surrounding Nvidia's strong Q1 earnings and data center demand. As AMD also has a presence in the data center segment, investors are optimistic about the company's potential growth in this area.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Nvidia reported strong Q1 earnings and revenue, beating estimates, and issued better-than-expected Q2 revenue guidance. The company also highlighted robust demand for its data center products.
Nvidia's stock price is likely to go up in the short term due to the company's strong Q1 earnings and revenue, as well as better-than-expected Q2 revenue guidance. The robust demand for Nvidia's data center products, driven by generational AI products, is a key growth driver for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100