Chip stocks slip after AMD, Skyworks, SMCI post disappointing results

Skyworks Solutions

01/05/2024 10:10

** Shares of chipmakers fall in premarket trading as
Advanced Micro Devices  AMD.O , Super Micro Computer  SMCI.O 
and Skyworks Solutions  SWKS.O  slide after results
    ** AMD slid 5.8% after AI chip sales forecast failed to
impress investors
    ** AI server maker Super Micro Computer slumps 8.7% after Q3
revenue missed estimates, hurt by a shortage of some crucial
components
    ** Skyworks, which makes radio frequency and other chips
used in smartphones, forecast Q3 revenue below estimates on
demand concerns
    ** Other chip stocks drop: Marvell Technology  MRVL.O  down
2.6%, while Micron and Nvidia fall 1.8% each and Intel shed 0.8%
    ** iShares Semiconductor ETF  SOXX.O  slips 1.8% after 11.4%
rise YTD

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