Standard Chartered Quarterly Profit Jumps, Announces $1.3 Billion Buyback
The London-based bank said Thursday that net profit rose 81% from a year earlier to $1.71 billion for the three months ended June. That beat the estimate of $1.24 billion in a poll of analysts by data provider Visible Alpha.
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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
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Nvidia Stock Climb Ahead of AI Earnings Wave as Vast Data Deal Brews
Aug 4 - Nvidia (NASDAQ:NVDA) stock climbed 2% on Monday morning to $177, bouncing back after last week's dip tied to disappointing jobs data. The broader market rose too, offering support to AI-related names. However, with most major tech companies having already reported earnings, investors now await Nvidia's own update on August 27 for more direction on the AI trade. Warning! GuruFocus has detected 5 Warning Signs with NVDA. In the meantime, attention shifts to upcoming earnings from Advanced Micro Devices (NASDAQ:AMD) and Super Micro Computer (NASDAQ:SMCI), due Tuesday. Their reports may offer a glimpse into ongoing demand for AI processors, something Nvidia leads in. Nvidia's chips remain the top pick for training AI models. Beyond earnings, Nvidia appears to be putting capital to work. According to a Reuters report, the company is in talks to invest in AI storage specialist Vast Data, a deal that could value the startup at up to $30 billion. Vast Data supports AI data centers by enabling efficient movement of data across processors, an area that aligns well with Nvidia's infrastructure goals. Broadcom (NASDAQ:AVGO) also saw gains of 1.2% in premarket trading, while AMD rose 2%, suggesting investor confidence in the AI supply chain remains strong. This article first appeared on GuruFocus. 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
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Palantir's Ultra-Expensive Valuation Sparks Worry Into Results
(Bloomberg) -- The setup ahead of Palantir Technologies Inc. earnings is a familiar one: The stock hovers around a record and boasts the highest price-to-earnings ratio on the S&P 500 Index. PATH Train Service Resumes After Fire at Jersey City Station Seeking Relief From Heat and Smog, Cities Follow the Wind Chicago Curbs Hiring, Travel to Tackle $1 Billion Budget Hole NYC Mayor Adams Gives Bally's Bronx Casino Plan a Second Chance Wall Street has long been leery of Palantir's runaway valuation. More than twice as many analysts assign the stock sell or hold ratings than buy. Its forward price-to-earnings ratio is 229, more than double the second-priciest tech company — Crowdstrike Holdings Inc. — and eight times as expensive as tech peers. Shares advanced about 4% in mid-day Monday trading. Even so, investors have kept plowing money into the stock, which also boasts a large retail following. Bulls have looked past the eye-watering P/E ratio to home in on Palantir's growth potential given its ties to the US government, its growing commercial offerings and use of artificial intelligence. That exuberance is spurring some unease. If Palantir wants to satisfy investors, it has a high bar to clear when it reports after the close on Monday. 'The company is now in a position where they have to blow out numbers,' Ted Mortonson, managing director at Robert W Baird & Co Inc., said. 'They just have to absolutely annihilate the Street.' Gil Luria, DA Davidson's head of technology research, pointed to Palantir's last several quarters, where it 'easily' beat earnings estimates. The company seems to have 'more momentum than any other publicly traded software company,' with expectations 'as high as ever,' he said. He cites the company's estimated organic revenue growth rate of 35% this year, which is the highest among the 100+ software companies he tracks. Palantir also has the highest expected free cash flow, at a 42% margin. Still, Luria says he's 'very aware of the sky-high valuation,' which is why his firm rates Palantir stock neutral. Analysts will be assessing Palantir's efforts to grow its government businesses, both with the US and other countries. That includes Palantir bull Daniel Ives, at Wedbush Securities, who highlighted a recent US Army deal worth up to $10 billion as an 'additional tailwind.' On the commercial side, Luria says the company 'will need to build on the success they have had with their AI pilot program and convert all those new customers to longer-term relationships.' Plus, Palantir will also increasingly have to contend with a 'rising talent war' for capable AI professionals, Luria warns. In recent weeks, Alphabet Inc.'s Google was said to have struck a deal to pay about $2.4 billion for top employees and licensing rights from AI coding startup Windsurf, while Meta Platforms Inc. made unusually high compensation offers to new members of its 'superintelligence' team — including a more than $200 million package for a former Apple Inc. engineer. There are reasons to hold Palantir stock even though it's expensive, said Jim Worden, chief investment officer at the Wealth Consulting Group. Palantir could be at an 'Apple moment,' like when the iPhone first came out, he added. 'I hear all the people that say it's super expensive, it's priced for perfection,' Worden said. 'If they're in this Apple moment, which they very well could be' — with a billion dollars a quarter in revenue rising to $10 billion, then $20 billion — the company could grow into its valuation, he said. Top Tech Stories Apple has a new 'Answers' team developing a stripped-down rival to ChatGPT to help users access world knowledge. Amphenol Corp. is nearing an acquisition of CommScope Holding's broadband connectivity arm in a deal valued at roughly $10.5 billion including debt, the Wall Street Journal reported on Sunday, citing people with knowledge of the matter. Apple Inc. Chief Executive Officer Tim Cook, holding a rare all-hands meeting following earnings results, rallied employees around the company's artificial intelligence prospects and an 'amazing' pipeline of products. Xiaomi Corp. on Monday released an open-source voice model to complement its automotive and home appliance technologies, further heating up the race to build AI tools for more than just text. Earnings Due Monday Earnings Premarket: On Semiconductor Corp. (ON US) Earnings Postmarket: Palantir Technologies Inc. (PLTR US) Ichor Holdings Ltd. (ICHR US) EverQuote Inc. (EVER US) IAC Inc. 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