Chip stocks rally on optimistic AMD earnings and Fed's signal that inflation is easing
Publishing timestamp: 2023-02-01 17:11:18
Summary
Semiconductor stocks rose on Wednesday following AMD's strong earnings report and the Federal Reserve's decision to increase the federal funds rate. AMD stock gained over 12%, while Nvidia, Qualcomm, Broadcom, Intel, and GlobalFoundries all rose. AMD's report had a more optimistic outlook on the semiconductor market than Intel's report in January, which suggested collapsing demand for its products.
Sentiment: POSITIVE
Tickers: INTC, SMH, GFS, NVDA, AMD, QCOM, AVGO,
Keywords: breaking news: technology, mobile, broadcom inc, intel corp, globalfoundries inc, advanced micro devices inc, business, business news, apple inc, nvidia corp, technology, qualcomm inc, vaneck semiconductor etf,
Source: https://www.cnbc.com/2023/02/01/chip-stocks-up-on-amd-earnings-feds-signal-inflation-is-easing.html