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What’s Going On With Nvidia, AMD And Other Chip Stocks On Friday?

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What's Going On With Nvidia, AMD And Other Chip Stocks On Friday?


Chip stocks, including Nvidia Corp (NASDAQ:NVDA), Advanced Micro Devices, Inc (NASDAQ:AMD), Broadcom Inc (NASDAQ:AVGO), Micron Technology, Inc (NASDAQ:MU), Taiwan Semiconductor Manufacturing Co (NYSE:TSM), Intel Corp (NASDAQ:INTC), Monolithic Power Systems, Inc (NASDAQ:MPWR), Marvell Technology, Inc (NASDAQ:MRVL) and ON Semiconductor Corp (NASDAQ:ON), are trading higher Friday.

The move is in sympathy with Western Digital Corp’s (NASDAQ:WDC) rally following its upbeat quarterly print.

On Thursday, Western Digital reported first-quarter EPS of $1.78, which beat the analyst consensus of $1.73. Quarterly revenue of $4.09 billion trailed the consensus estimate of $4.12 billion compared to $2.75 billion a year ago.

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Also Read: Nvidia and Intel Competition Threaten AMD’s Growth, Analyst Says

Western Digital expects second-quarter revenue of $4.2 billion-$4.4 billion, versus the $4.35 billion estimate, and adjusted EPS of $1.75-$2.05, versus the $1.95 estimate.

KeyBanc analyst John Vinh recently flagged mixed performance in the semiconductor supply chain, revising several estimates and price targets. Despite weak analog markets, he cited signs of recovery in automotive and robust demand in traditional servers and AI, with Nvidia’s Blackwell launch on track for the fourth quarter.

Vinh downgraded Qualcomm Inc (NASDAQ:QCOM) and Synaptics Inc (NASDAQ:SYNA) to Sector Weight, pointing to Qualcomm’s market share loss to MediaTek due to price competition and Synaptics’ challenges in IoT against local competitor HiSilicon.

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He highlighted Nvidia and AMD positively for their robust AI and server demand, whereas Micron, Monolithic Power, Marvell, and Intel face headwinds from market share losses and intensifying competition.

Equity research can be a valuable source of information for learning about a company’s fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.

Shares of Western Digital have an average 1-year price target of $92.07, representing an expected upside of 27.01%.

Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Western Digital, while 12 analysts have bullish ratings. The street high price target from Rosenblatt is $115.0, while the street low from Susquehanna is $75.0.

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Price Actions: At last check Friday, NVDA stock was up 2.13% at $143.33. AMD stock is up 3.09%, AVGO stock is up 2.47%, MU is up 2.80%, TSM is up 2.64%, ON is up 3.17%, and INTC stock is up 3.69%.



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CryptoCurrency

Saylor’s Bitcoin custody debacle highlights growing divide in crypto community

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Saylor’s Bitcoin custody debacle highlights growing divide in crypto community


As institutional interest in Bitcoin soars, the crypto community grapples with fundamental questions about custody and control.



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CryptoCurrency

Binance founder CZ sees positive shift in crypto regulation worldwide 

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Binance founder CZ sees positive shift in crypto regulation worldwide 


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Harris win unlikely to rock Bitcoin price, but crypto fears persist, say observers

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Harris win unlikely to rock Bitcoin price, but crypto fears persist, say observers


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Missing Bitcoin and lost execs: Halloween’s creepiest crypto mysteries

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Missing Bitcoin and lost execs: Halloween’s creepiest crypto mysteries


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Bitget wallet on Telegram hits 6 million users 3 days after launch

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Bitget wallet on Telegram hits 6 million users 3 days after launch


Bitget Wallet’s Telegram Mini App, Bitget Wallet Lite mini, has attracted more than six million users in just three days after its soft launch.



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Bitcoin at 16: From experiment to trillion-dollar asset

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Bitcoin at 16: From experiment to trillion-dollar asset


In just 16 years, Bitcoin has grown to become the world’s 10th largest asset and the best currency for “financial freedom,” according to Tether CEO, Paolo Ardoino.



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