Yesterday, AMD reported a more than twofold increase in revenue in the server segment for the second quarter, as well as a one and a half times increase in revenue in the PC segment. She also improved her forecast for revenue from sales of Instinct computing accelerators. All this, combined with news about the selective nature of the upcoming US sanctions against China, allowed the company’s stock price to rise by almost 5%.
Image Source: AMD
Strictly speaking, quotes of many companies in the semiconductor sector returned to growth, but for AMD, investor optimism was supported by the individual achievements of this chip supplier in the past quarter. Nvidia showed an increase in the price of its shares by 13%, Qualcomm shares rose by more than 8% against the background of the publication of quarterly reports.
In South Korea, news about the inclusion of local suppliers of equipment for chip production on the “white list” of the US Department of Commerce stimulated an increase in Samsung stock prices by 3.58%, while rival SK hynix added 3%. Let us recall that yesterday it became known about the intentions of the US authorities to exclude Japan, South Korea and the Netherlands from the list of countries that will be subject to new export control rules regarding the supply of equipment for the production of chips to China. Shares of the Dutch ASML rose in price by 10%, and the Japanese Tokyo Electron showed an increase in quotes by 7.41%.