What's Going On With AMD Stock Thursday?
Portfolio Pulse from Anusuya Lahiri
AMD stock rose in response to Nvidia's positive quarterly results and guidance, with Nvidia reporting a significant year-over-year revenue increase and beating EPS estimates. The U.S. government's crackdown on China's SMIC, affecting Entegris, highlights the geopolitical tensions impacting the semiconductor industry. Despite restrictions, Nvidia sees no harm from U.S. sanctions, while the industry seeks a softer stance on China policy. AMD's year-to-date stock performance is up 19%, with a notable increase on Thursday.
February 22, 2024 | 3:17 pm
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POSITIVE IMPACT
AMD stock rose in response to Nvidia's positive earnings, indicating strong sector performance. Year-to-date, AMD's stock is up 19%, with a significant increase on Thursday.
AMD's stock performance is closely tied to sector trends and Nvidia's positive earnings report, suggesting investor confidence in AMD's market position and future prospects.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Nvidia reported a significant year-over-year revenue increase and beat EPS estimates, with expectations of continued growth. The company remains unaffected by U.S. sanctions on China.
Nvidia's strong financial performance and optimistic future revenue projections reflect its robust position in the market, despite geopolitical tensions.
CONFIDENCE 95
IMPORTANCE 95
RELEVANCE 95
NEGATIVE IMPACT
Entegris ceased shipments to SMIC's advanced plant following U.S. government restrictions, impacting trade and highlighting geopolitical tensions in the semiconductor industry.
The U.S. government's actions against SMIC, affecting Entegris, demonstrate the significant geopolitical risks facing companies in the semiconductor supply chain.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80