AMD Stock Closes Higher for Fourth Straight Week
Not much news on the AMD front this week. Samsung Chip shares rose for the fourth consecutive quarter, and previously released Q3 earnings showed AMD stock strengthening despite a cyclical downturn for the chip maker.
On Oct. 31, AMD reported normal operating capital of $0.70, slightly ahead of market expectations by 2 cents. Revenue was $5.8 billion, $106 million above expectations.
AMD's main competitor, Nvidia (Nvidia), released an extremely optimistic financial report on Tuesday, making shareholders feel frustrated. Nvidia's revenue in the most recent quarter was more than $2 billion higher than expected, while the quarter's sales are expected to increase by more than $2 billion to nearly $20 billion.
Nvidia's stock sold off after it said on Friday that its HGX H20 chip, which focuses on artificial intelligence (AI) and was developed to circumvent U.S. government chip cuts in China, would be delayed until the first quarter of next year. However, it is widely believed that the L20 PCIe and L2 PCIe chips will launch in China as planned. Huawei Technologies is expected to benefit from the outcome of Nvidia's artificial intelligence chips being cut or delayed in China's domestic market.
At the same time, it could also increase sales for AMD's MI300A and MI300X AI chips. Xiaomi CEO Liza Su has said that the Xiaomi 300 chip is expected to be the first product in the company's history to reach $1 billion in sales.$Advanced Micro Devices(AMD.US)$ $NVIDIA(NVDA.US)$ $Direxion Daily Semiconductor Bull 3x Shares ETF(SOXL.US)$
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