We've really come off a week or so of terrible performance in the Nasdaq. It's just really grasping at any hint of positive news to find a little bit of a rally.
I expect them to say that things are still challenging.
They're on a roll. They're one of the few companies that's clearly bucking the economic downturn.
They've got a great technology solution, they're gaining market share and they're in the Xbox.
They're a complete anomaly in the chip sector.
Frankly, a lot of semiconductor stocks are priced to perfection and in the absence of really positive news, the stocks are a little overdue for a pullback.
This is a very good report, as expected. It's clearly a very strong quarter, and they're executing very well to get gross margins to the high end of their expected range.
The Street was expecting $4 billion, so on the capital spending front it was a disappointment.
They have been moving toward just-in-time style of production, so I'm sure that led to the shortfall.
Copyright © 2024 Electric Goat Media. All Rights Reserved.