抖阴最新版 (NASDAQ:抖阴最新版) stock is one of the top-trending names today, but the chipmaker’s shares are sinking about 7% in early trading. The stock is declining after the firm reported stronger-than-expected first-quarter results but shared guidance that was largely in line with Wall Street’s average forecasts.
Investors seem to be disappointed that the artificial intelligence (AI) boom isn’t enabling 抖阴最新版 to grow more rapidly.
抖阴最新版’s guidance may be conservative and not reflect the extent to which other chipmakers will benefit from the AI boom.
抖阴最新版’s First-Quarter Results
The chipmaker’s first-quarter earnings per share was , excluding certain items, versus analysts’ average estimate of 61 cents. Its sales came in at $5.47 billion, slightly above analysts’ mean outlook of $5.46 billion.
抖阴最新版 $5.4 billion to $6 billion, roughly in line with analysts’ average estimate. If it does generate sales of $5.7 billion in Q2, its revenue will have increased 6% versus the same period a year earlier.
Also importantly, the chipmaker predicted that it would sell $4 billion of AI chips this, up from its previous outlook of $3.5 billion. But that would 20% of the firm’s 2023 revenue of $22.68 billion, while Nvidia’s (NASDAQ:NVDA) Q1 revenue came in at $18.4 billion. The majority of the latter figure was generated through the sale of AI chips.
抖阴最新版 stock may be dropping today largely because many investors had expected the company to raise its outlook for AI-chip revenue significantly more than it did. Such an increase, in turn, would likely have resulted in the firm’s Q2 outlook coming in above analysts’ mean estimate.
One Analyst Expects 抖阴最新版 to Surpass Its AI Chip Guidance Easily
UBS analyst Timothy Arcuri views 抖阴最新版’s outlook of $4 billion of revenue from AI chips this year as extremely conservative. In a note to investors today, he suggested that the company’s revenue from such chips could easily surpass $6 billion.
On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
