AMD Skyrockets Over 9%, Nvidia Rises In Sympathy: What's Going On
Portfolio Pulse from Shanthi Rexaline
AMD shares surged over 9% in premarket trading after reporting strong Q2 results and positive revenue guidance, driven by record data center revenue. This positive sentiment also lifted Nvidia shares by 5.40%.
July 31, 2024 | 9:07 am
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AMD shares surged over 9% in premarket trading after reporting strong Q2 results and positive revenue guidance, driven by record data center revenue.
AMD's strong Q2 results, driven by record data center revenue and positive revenue guidance, have significantly boosted investor sentiment, leading to a 9% surge in premarket trading.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Nvidia shares rose 5.40% in premarket trading, benefiting from the positive sentiment generated by AMD's strong Q2 results.
Nvidia shares rose 5.40% in premarket trading as positive sentiment from AMD's strong Q2 results spilled over to its rival, indicating a potential short-term boost in Nvidia's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70