Chip stocks mixed: AMD, Cirrus Logic gain; Skyworks slips

Cirrus Logic

04/05/2022 12:28

** Shares of U.S. chipmakers mixed, with AMD  AMD.O , Cirrus
Logic  CRUS.O  rising after results and Skyworks slipping in
premarket trading
    ** AMD Inc  AMD.O  forecast stronger- than-expected FY and
Q2 revenue, with the data center boom boosting demand for its
chips  urn:newsml:reuters.com:*:nL3N2WW1B4
    ** AMD shares, down 37% YTD, up nearly 6% at $96.60 before
the opening bell
    ** Peer Intel  INTC.O , which forecast Q2 revenue and profit
below estimates last week, slipped 0.2%; Nvidia  NVDA.O  added
1.8%
    ** Chipmaker and Apple Inc supplier  AAPL.O  Skyworks
reported quarterly results and outlook in line with estimates;
its shares fell 3.2%
    ** Another Apple supplier Cirrus Logic Inc  CRUS.O 
delivered a Q4 results beat and forecast higher-than-expected
current-quarter revenue; CRUS shares rose 2.6% in very low
volume
    ** The Philadelphia chip index  .SOX  is down 23% this year

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))