AMD Stock Trades Down As Anticipation Builds For Nvidia Earnings
Portfolio Pulse from Henry Khederian
AMD's stock is down over 3% due to broader tech sector weakness and anticipation of Nvidia's upcoming earnings report. Nvidia's strong expected performance could impact AMD negatively, as both companies compete in GPUs and AI accelerators. Nvidia's results may set the tone for the semiconductor sector, potentially raising expectations for AMD.
August 26, 2024 | 6:46 pm
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NEGATIVE IMPACT
AMD's stock is down over 3% due to anticipation of Nvidia's earnings, which could indicate Nvidia gaining market share in GPUs and AI accelerators, pressuring AMD.
AMD is directly impacted by Nvidia's earnings as they are competitors in key markets. Strong Nvidia results could signal market share gains, leading to investor concerns about AMD's competitive position.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Investors can gain exposure to AMD and Nvidia through the Invesco QQQ Trust, which holds shares of both companies. Nvidia's earnings could impact QQQ's performance.
QQQ holds shares of both AMD and Nvidia. Nvidia's earnings could influence QQQ's performance, but the impact is less direct compared to individual stocks.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The SPDR S&P 500 ETF Trust provides exposure to AMD and Nvidia. Nvidia's earnings could influence SPY's performance, reflecting broader tech sector trends.
SPY includes AMD and Nvidia, so Nvidia's earnings could affect SPY's performance, but the impact is diluted across the broader index.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 40
POSITIVE IMPACT
Nvidia's upcoming earnings are highly anticipated, with strong expected performance. Positive results could boost Nvidia's stock further, especially in AI accelerators.
Nvidia's strong expected earnings and potential positive guidance in AI could lead to further stock gains, reinforcing its leadership in AI hardware.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 80