Why Are AMD, Nvidia And SMCI Stocks Falling Sharply Premarket Today?
Portfolio Pulse from Shanthi Rexaline
AMD's Q1 results exceeded estimates but showed a quarter-over-quarter decline, leading to a 6.34% premarket drop. Weakness in Gaming and Embedded segments and a cautious Q2 forecast contributed to the decline. This negativity affected the sector, with SMCI and Nvidia also falling premarket by 12.28% and 2.20%, respectively.
May 01, 2024 | 11:14 am
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NEGATIVE IMPACT
AMD's Q1 results exceeded expectations but showed a decline from the previous quarter, leading to a 6.34% premarket stock drop.
AMD's premarket drop is directly tied to its Q1 performance and cautious Q2 forecast, indicating a negative short-term impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Nvidia's stock dipped 2.20% premarket, possibly due to high expectations for its upcoming earnings and the sector's overall negative sentiment.
Nvidia's premarket decline may reflect investor caution and high expectations for its upcoming earnings, compounded by the negative sentiment from AMD's report.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
SMCI's stock fell 12.28% premarket, likely affected by the negative sentiment surrounding AMD's earnings report.
SMCI's premarket drop is likely a result of sector-wide negativity following AMD's earnings, despite not being directly related to SMCI's own performance.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80