Semiconductor Shares Rise. Marvell Jumps 7%; Intel Rises 6%; Nvidia Gains 2%

Tiger Newspress11-01

Semiconductor shares rose in morning trading. Marvell Technology rose 7%; Intel rose 6%; TSMC rose 3%; Nvidia rose 2%.

Intel expressed optimism on Thursday about the future of its PC and server businesses, forecasting current-quarter revenue above estimates but warning that it had "a lot of work to do."

The company has largely missed out on a boom in investments in speedy, advanced AI chips for data centers as businesses double down on adopting generative AI technology - a market dominated by Nvidia, followed by rival AMD .

Intel reported third-quarter revenues above analysts' estimates, but also posted a massive net loss as a result of impairment and restructuring charges.

In an interview with Reuters, Intel finance chief David Zinsner said the company was "making progress" on its profitability but that it had "a lot of work to do" to achieve the targets it had set.

Intel reported a third-quarter net loss of $16.6 billion, excluding losses attributable to certain non-controlling interests. That compared with a net profit attributable to Intel of about $300 million in the year-earlier period.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • RexLim
    11-02
    RexLim
    Semiconductor shares rises....only AMD this piece of shit in the semiconductor segment drop like hell...never ever trust quarterly earnings report...so what if get to meet estimation...trash stock remain trash and will continue to drop like taking the elevator to hell 
  • shihlonchen
    11-02
    shihlonchen
    爛到有勝死貓跳
Leave a comment
2
2