3 Chip Stocks to Note Now: AMD Denies Production Delays, Nvidia Earnings Forecast Takes a Beating, and AMR Profits Cut by Competition
AMD (NYSE:AMD): AMD is now denying rumors that there will be a delay in the production of its Kaveri advanced processing units, insisting that everything is going according to plan. Previous concerns originating from a Taiwanese supply chain indicated that the new processors could be behind, but the company told bit-tech that “AMD’s ‘Kaveri’ high-performance APU remains on track and will start shipping to customers in Q4 2013.”
Nvidia (NASDAQ:NVDA): Nvidia is worrying investors as it predicts earnings that are below market expectations. Slow personal computer sales are hurting the company, incentivizing it to launch its recent gaming device, The Shield. Tablets are becoming a key culprit on the computing scene as consumers are shunning tradition desktops for more mobile-oriented devices. Shares of Nvidia have rebounded slightly from the morning, now down 1.63 percent.
ARM Holdings (NASDAQ:ARMH): While revenue increased for the British company, profits were down as ARM faces more competition from all sides in the crowded space, warranting an increase in spending on marketing and research. Profit dipped to $96 million while overall revenue jumped up 27 percent.