Stocks to Watch: Snap, AMD, Super Micro Computer, Electronic Arts
January 31 2023 - 6:57PM
Dow Jones News
By Patrick Chu
Advanced Micro Devices Inc. Chief Executive Lisa Su said she
expects the chipmaker to win market share this year in the critical
data-center market, where it has been stealing business from Intel.
AMD's fourth-quarter data-center revenue leaped 42%. Intel last
week posted a 33% decline in data-center sales. AMD shares rose
1.6% in after-hours trading on Tuesday.
Snap Inc. warned sales in the current quarter are likely to drop
after revenue growth stalled in the final three months of last
year. The Snapchat parent generated $1.3 billion in sales in the
fourth quarter, roughly flat from the year-earlier period and
broadly in line with Wall Street's expectations. Snap shares dived
14% in the after-hours session.
Super Micro Computer Inc. forecast sales between $1.42 billion
and $1.52 billion, and adjusted earnings between $1.88 and $2.14 a
share, for the third quarter ending March 31. Analysts polled by
FactSet expected revenue of $1.6 billion and adjusted earnings of
$2.12 a share. Super Micro shares tumbled 11% in after-hours
trading.
Electronic Arts plans to delay its major Star Wars game release
to April 28 and shut down the development of two mobile games: Apex
Legends Mobile and Battlefield Mobile, citing quality concerns. EA
shares dived 11% in after-hours trading.
Write to Patrick Chu at Patrick.Chu@WSJ.com
(END) Dow Jones Newswires
January 31, 2023 18:42 ET (23:42 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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