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The Stock Movers report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data.
I'm Charlie Pella. Let's take a look now with some of the stocks on the move, and I'm joined by Bloomberg's Avalon Parnell lots of earnings after the close of trading. On what they all have in common, these are tech names. So let's begin with super Micro. It is jumping. What's going on with super Micro after ours?
Absolutely, that's sicker SMCI. It's up now currently about twenty percent post market. That's after the computer hardware company reported very much improved margins and gave a profit forecast to suggested it's starting to manage the cost of getting those AI servers into customers' hands. Bloomberg Intelligent just writing that the ten percent gross margin very much overshadowed the sales
miss in the print. Also important to note that this is going to be good news, considering super Micro shares have been down about five percent this year as legal woes and questions on their accounting practices continue to plague the company.
I have a lot I mentioned that all three are tech names, but all three also have something else in common, and that is artificial intelligence. Also, after the closer trading we heard from Advanced micro Devices, it gave an upbeat forecast. Tell me a little bit more about what AMD had to say, not only in terms of the current quarter, the outlook and also AI.
Yes, that's a very easy ticker to remember. That's AMD currently up now about seven point six percent after the company gave a better than expected second quarter forecast as it continues to cash in on the AI spending craze. Also worth mentioning that it posted a first quarter beat practically across the board. Webbush's writing that AMD had stellar numbers and that the beat could potentially mean that the
good times are just going to continue rolling. While Nvidia continues to be the top provider of AI processors, AMD is really showing that they're continuing to win orders from some of the those big spenders.
All right, And as we continue the conversation about some chip names, Intel, another big move for this stock today keeps on going. What was the news today involving Intel?
Yes, so that's ticker i INTC. It jumped thirteen percent into the clothes to hit a fresh record high. That's after Bloomberg reported that Apple has held conversations with both Intel and Samsung about producing processors for its devices in the US. Important to emphasize that these talks are very much still preliminary and haven't resulted in any orders, but investors are taking this as another great positive sign that the turnaround for Intel is heading in the right direction.
And you're absolutely right. Intel shares are up one hundred and ninety three percent this year.
Indeed, and worth pointing out too that the other name mentioned their Apple that's stock cup today by two point seven percent.
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