Stocks to Watch: Snap, AMD, Super Micro Computer, Electronic Arts

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)

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