The market has been a buy on weakness, says BD8 Capital Partners CEO Barbara Doran
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Yahoo
26 minutes ago
- Yahoo
AMD to report Q2 earnings as Wall Street looks to AI, PC sales growth
AMD (AMD) will report its second quarter results after the bell on Thursday, giving Wall Street a better understanding of the AI chip market ahead of rival Nvidia's (NVDA) report later this month. The company stands to benefit from the resumption of its chip sales in China after the Trump administration briefly banned them in April, as well as the potential for pull-forward in CPU sales as manufacturers built up inventory to fend off the impact of tariffs on PC sales. AMD shares are up 47% year to date and 34% over the last 12 months, while Nvidia shares are up 33% and 66%, respectively. For the quarter, AMD is expected to see adjusted earnings per share (EPS) of $0.49 on revenue of $7.4 billion, according to Bloomberg consensus estimates. That would represent a 29% decline in EPS but a 27% jump in revenue. Part of the reason for that is that AMD is expected to take a $700 million hit from the Trump administration's ban on the sale of the company's MI308 AI chips for China. That's far lower than the $4.5 billion write-down Nvidia took in Q1 and the $8 billion it said it would take in Q2 due to the impact of the ban on its own China-specific chip. Trump reversed course on the ban last month, which should help make up for some of those losses in the coming quarters. AMD should also benefit from the launch of its MI350 line of AI chips, designed to go toe-to-toe with Nvidia's Blackwell-powered chips. According to AMD, the MI350 line, which includes the MI350X and MI355X, offers four times the AI compute performance and a 35x increase in inferencing capabilities versus its predecessors. 'We expect AMD to post higher results and higher guidance, as we see improving traditional server demand and latest generation share gains, as well as strong demand for MI355,' KeyBanc Capital Markets analyst John Vinh wrote in an investor note ahead of the company's earnings. AMD's Data Center segment is expected to bring in $3.2 billion in the quarter, up 14% year over year from Q2 2024 when the business generated $2.8 billion. Beyond the Data Center segment, AMD's Client business, which includes sales of CPUs for desktops and laptops, is expected to see $2.5 billion. That's a massive 71% jump versus the $1.4 billion it brought in during the same quarter last year. That anticipated increase is thanks to the anticipated pull-forward in laptop and desktop shipments to combat the Trump administration's tariffs. But it will also hurt sales in the back half of the year. 'Similar to [Intel], we expect AMD Client to benefit from tariff-related pull-in of demand in Q2, and that same benefit to likely reverse in 2H, leading to below-seasonal Q3/Q4,' BofA Global Research analyst Vivek Arya wrote in an investor note. 'For [Intel], new Street estimates for [Client Computer Group] now point to +4%/+2% [quarter-over-quarter growth] in Q3/Q4, below +7%/+4% prior to Q2 earnings and also below typical +9%/+4%,' Arya added. 'However, for AMD, we highlight Street estimates already embed the demand normalization, with Client estimates of +2%/+0% in Q3/Q4 well below typical +15%/+14%.' Email Daniel Howley at dhowley@ Follow him on X/Twitter at @DanielHowley. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26 minutes ago
- Yahoo
Rolex, luxury watchmakers brace for Trump's tariffs on Swiss imports
Switzerland is bracing for a big tariff hike on its exports, and its watch industry could take the brunt if President Trump hits Alpine nations with an enhanced 39% tariff for its exports, slated to start on Aug. 7. The Swiss watch industry employs thousands of artisans at various watchhouses that pump out millions of wristwatches and clocks each year. The industry also employs thousands in corporate and retail roles too. In 2024, Swiss watch exports hit $29.5 billion, second only to manufactured items like pharmaceuticals and chemical products, with the US being Switzerland's main trade partner. A tariff at these levels could crush demand for new Swiss watches. 'A 39% markup could make even a stainless-steel Submariner at retail jump from $10,000 to nearly $14,000,' secondhand dealer Bob's Watches CEO Paul Altieri said to Yahoo Finance. Read more: What Trump's tariffs mean for the economy and your wallet Altieri noted that Bob's Watches' demand for pre-owned models is on the rise, with buyers hoping to avoid the tariff price surge. Indeed, watch prices have already been rising in the US when Swiss exports were hit hit a 10% tariff earlier this year. Morgan Stanley and its data partner WatchCharts found that prices for luxury watchmakers like Patek Philippe (up 6.9%), Audemars Piguet (up 6.7%), and Richemont's ( Vacheron Constantin (up 6.5%) have risen the most in its second quarter industry report. And these tariff-fueled price hikes won't just be situated in the US but will likely affect global customers too, argued watch trading site Subdial, which runs an online watch marketplace and releases its own watch index with Bloomberg. 'If they increase prices in the US only, we may see a knock on effect in other markets. It seems more likely that brands will increase prices across all geographies (so as to maintain pricing parity, an important principle within luxury), and just accept lower margins on US stock on account of tariffs,' a spokesperson for Subdial said. Price hikes will push more of these buyers to the secondhand market, where the selection is vastly wider and deals can be found, the Subdial spokesperson added. The big watch houses and retailers aren't saying much at the moment about where prices are headed. Swiss-based Swatch Group ( is the largest watch producer in the world and counts brands like Omega, Blancpain, Breguet, and, of course, Swatch, in its portfolio. A spokesperson for the group said the company would not comment at this time. Geneva-based Rolex, which is estimated to produce over a million luxury watches a year, is in the tariff crosshairs. A Rolex spokesperson did not respond to Yahoo Finance when sought for comment. Watches of Switzerland (WOSG.L) is one of Rolex's top retail partners and operates certain 'monobrand' Rolex-only boutiques. 'We note the announcement of the proposed new US tariff rate on imports from Switzerland due to come into effect on 7th August and will continue to work closely with our brand partners to mitigate any potential impact,' the company said in a statement to Yahoo Finance. Mitigating the impact in this case likely means passing on tariff costs to customers and/or absorbing a small percentage. And this is because the effect of full passage to customer would be huge. For Rolex and Watches of Switzerland, the tariff effects may not be as severe since they operate their own certified pre-owned (CPO) watch programs. Last year Rolex bought Bucherer, the jewelry and luxury watch retailer that operates the Tourneau chain in the US. New watch buyers could shift to these CPO programs and still keep revenue flowing. But as Bob's Watches points out, used prices are climbing in sympathy as demand rises. Interestingly, Trump's tariffs on the Swiss could actually hurt his own business interests. Last year, Trump licensed his name for a range of Trump-branded watches, with models dubbed 'Fight Fight Fight" and 'Mugshot suit,' as well as a $100,000 Swiss-made tourbillon movement watch in solid 18K gold. Pras Subramanian is the lead autos and wealth reporter for Yahoo Finance. You can follow him on X and on Instagram. Click here for in-depth analysis of the latest stock market news and events moving stock prices
Boston Globe
27 minutes ago
- Boston Globe
Police investigating after neo-Nazis spark scuffle in Concord, N.H.
'No arrests were made at that time,' the department said in a statement on Sunday, 'however this is an active investigation and the department expects to release more information soon.' In a follow-up statement on Monday, the department said officers had received several video recordings and were working to identify those who may have been involved. Advertisement A lieutenant told New Hampshire Public Radio that police were investigating Get N.H. Morning Report A weekday newsletter delivering the N.H. news you need to know right to your inbox. Enter Email Sign Up The marchers appeared to be affiliated with the white supremacist ' A 'Rage Against the Regime' protest against the Trump administration was Video published by Advertisement A spokesperson for U-Haul told The Boston Globe on Monday that the company had received video and photos 'almost immediately' after the incident showing the equipment being misused. 'It is extremely dangerous, illegal and a breach of our rental agreement to transport people in the cargo area of our equipment,' spokesperson Jeff Lockridge said in an email. 'The customer on this rental contract has been identified and can no longer rent from us.' Lockridge did not identify the customer, and he said U-Haul teams work closely with law enforcement 'and are available to assist with any investigative needs they have.' The supermarket near where the scuffle was documented is just down the street from a cafe where a different white nationalist group The incident from 2023 is the subject of an ongoing civil rights prosecution by the New Hampshire Department of Justice, and Governor Kelly A. Ayotte said the DOJ's civil rights unit is ' 'There is no place for hate groups or their repugnant and disgusting ideology in New Hampshire,' she said. The incident sparked denunciations from Republicans and Democrats alike in New Hampshire. 'This was an act of intimidation rooted in a violent ideology responsible for genocide, war, and crimes against humanity,' said State Representative Alexis Simpson of Exeter, the Democratic minority leader in the New Hampshire House of Representatives. New Hampshire GOP Vice Chair Hollie Noveletsky said the neo-Nazi group's worldview is ' Advertisement 'The Republican Party is unequivocal in condemning this fringe organization as they promote a completely anti-American ideology,' Noveletsky said. At the same time, Republican State Representative Joseph H. Alexander Jr. of Goffstown wrote 'This is communities free speech,' he said, 'and I will support it.' Any witnesses with video of the incident is asked to call the Concord Police Department at 603-225-8600. Those who wish to report information anonymously can call the regional crimeline at 603-226-3100, submit information Steven Porter can be reached at
