Advanced Micro Devices Shares Are Trading Lower Today: What You Need To Know
Portfolio Pulse from Vaishali Prayag
Shares of Advanced Micro Devices (AMD) are trading lower due to increased volatility in the semiconductor sector. This is influenced by a negative report on Super Micro Computer (SMCI) and anticipation of NVIDIA's (NVDA) upcoming earnings report.
August 28, 2024 | 7:15 pm
News sentiment analysis
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NEGATIVE IMPACT
AMD shares are down 2.29% due to sector volatility caused by a negative report on SMCI and anticipation of NVDA's earnings.
AMD's stock is affected by broader sector volatility. The negative report on SMCI and anticipation of NVDA's earnings create uncertainty, impacting AMD negatively.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SMCI shares plunged over 23% following a Hindenburg Research report accusing the company of accounting manipulation and other issues.
The Hindenburg report directly accuses SMCI of serious issues, leading to a significant drop in its stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
NVDA's upcoming earnings report is highly anticipated, with analysts revising revenue and net income estimates upwards, reflecting optimism in AI and semiconductor growth.
Positive analyst sentiment and upward revisions in estimates suggest a favorable outlook for NVDA, likely boosting its stock.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 70