kinngai chan

Advanced Micro Devices Inc forecast some strength in its data center business and promised to be careful with spending, sending shares up despite business being hit by a deepening PC market slump. AMD forecast fourth-quarter and full-year revenue below Wall Street estimates, but Kinngai Chan, an analyst at Summit Insights Group, suggested investors had braced for worse. "While AMD's 4Q22 sales outlook was below consensus expectations, we believe investors are somewhat relieved that AMD expects its data center and embedded…

Chipmaker Intel Corp cut its full-year profit and revenue forecast and warned it would lay off staff, but a stronger-than-expected performance at its personal computers segment helped send shares higher.Intel shares jumped over 5% in after-hours trade. They have slumped roughly 47% so far this year, underperforming both the S&P 500 index and the Philadelphia SE Semiconductor index. Chief Executive Pat Gelsinger said the cut to the fourth quarter outlook reflected economic uncertainty expected to last into next year,…

Chipmaker Texas Instruments Inc forecast fourth-quarter revenue and profit below estimates as it expects demand across most of its end markets to decline, sending its shares down 5%. After a two-year boom in the chip industry, triggered by tight supply and high demand, a downturn is setting in as personal electronics makers and retailers, who are sitting on bloated inventories due to inflation-hit demand, cut orders for chips. On the earnings call, TI said order cancellations increased during the third quarter. Chip…

Graphics chip designer Nvidia Corp forecasted a sharp drop in revenue in the current quarter on the back of a weaker gaming industry, knocking its shares down about 5% in after-hours trading. The company said it expected third quarter revenue of $5.90 billion, down 17% on year, but said the declines would be partially offset by growth in the data center and automotive business. Analysts, however, raised concerns it may face more bad news as former growth areas slow. "We think Nvidia may see further downside from the…

Semiconductor equipment maker Applied Materials Inc eased fears of a slowdown with a strong revenue forecast for the fourth quarter, though sticky supply chain snarls pinched its margins. Chipmakers Intel and Micron Technology Inc have recently warned of an inventory build-up and declining spending on electronics, sparking worries that the industry's years-long growth run was at an end. Chief Executive Gary Dickerson allayed the concerns, saying Applied Materials can overcome the dour economic outlook and that he remains…