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Summary
- AMD launched its new generation processors on June 17; they are used in Goggle Cloud applications.
- NVIDIA stock jumped 47% YTD. Its gaming and data-center businesses see rapid growth.
- NVIDIA’s revenue surged 84% YoY to US$5.66 billion in Q1 ended May 2, 2021.
Stocks of technology companies Advanced Micro Devices (AMD) and NVIDIA Corporation (NVDA) surged 0.69% and 3.58%, respectively, on June 18. AMD launched a new microprocessor on Thursday to be used in Google’s Cloud applications.
The AMD stock was trading at US$85.10 at 10.18 am ET on June 18, up 0.69% from the previous close. Its stock price declined by 7.89% YTD. AMD’s market cap is around US$103 billion.
NVDA stock jumped 3.58% from the previous close to US$673.38 at 10.40 am ET on June 18. Its stock price increased by 47.25% YTD. Its market cap is around US$103 billion.
Advanced Micro Devices (Nasdaq:AMD)
AMD and Google Cloud launched T2D, a new virtual machine built on AMD’s third-generation EPYC processors. T2D has 56% absolute higher performance and 44% price performance. The EPYC processor is developed for cloud computing.
AMD develops computing, graphics, and visualization technologies, building blocks for gaming, and datacentre. It has millions of customers and hundreds of fortune companies as its clients.
It recorded revenue of US$3.45 billion in Q1, 2021, ended on March 31. That was 93% up YoY and 6% up over the previous quarter. Its operating income was US$662 million, net income was US$555 million, and diluted per-share income was US$0.45. it has US$3.12 billion in cash, cash equivalents, and short-term investments.
Also read: Facebook launches ad service on Instagram Reels
Source: Pixabay.
NVIDIA Corporation (Nasdaq:NVDA)
It is a US multinational company that designs graphics and processing units for gaming and marketing companies. It also develops chip units for mobile phone and automotive companies.
Also read: 10 Semiconductor Stocks To Watch This Summer
It recorded total revenue of US$5.66 billion in Q1, 2021, which ended on May 2, up 84% YoY. The company saw record revenue from gaming, data center, and professional visualization platform.
Its earnings per diluted share were US$3.03, up 106% YoY and 31% QoQ. Its operating income was US$1.9 billion compared to US$1.4 billion in the same period of the previous year.
Its net income was US$1.9 billion compared to US$1.4 billion in the year-ago quarter.
