Super Micro Jumps, AMD Rallies on Upbeat Forecast, Intel Rises

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers, we take a look at some of the biggest gainers and decliners or the week:

• Super Micro (SMCI) shares gained in extended trading after the company reported improved margins and gave a profit forecast that suggested it’s controlling the costs of getting powerful AI servers into customers’ hands. Earnings, excluding some items, will be 65 cents a share to 79 cents a share in the period ending June 30, Super Micro said Tuesday in a statement. Fiscal fourth-quarter revenue will be $11.2 billion to $12.5 billion. Analysts polled by Bloomberg projected, on average, profit of 57 cents on sales of $11.2 billion.
• AMD (AMD) the second-biggest maker of computer processors, gave a strong forecast for the current period, showing that it’s cashing in on the flood of AI spending. Second-quarter sales will be $11.2 billion, plus or minus $300 million, the company said in a statement Tuesday. That compares with an average analyst prediction of $10.5 billion, according to data compiled by Bloomberg. AMD shares rose as much as 7.1% in extended trading following the announcement. The stock earlier closed at $355.26 in New York trading, leaving it up 66% this year. 
• Intel (INTC) shares rose on word that Apple held exploratory discussions about using Intel and Samsung Electronics to produce the main processors for its devices in the US, a move that would offer a secondary option beyond longtime partner Taiwan Semiconductor Manufacturing. The iPhone and iPad maker has had early-stage talks with Intel about enlisting the company’s chipmaking services, according to people familiar with the deliberations. Meanwhile, Apple executives have made visits to a Samsung plant under development in Texas that will also make advanced chips. Intel shares soared as much as 12% to a fresh record in New York on Tuesday, their biggest intraday gain in nearly a week. The stock has gained more than 180% this year, adding well over $340 billion to the company’s market valuation.

See omnystudio.com/listener for privacy information.