UK stocks tick up as traders await economic data

News

Server maker Super Micro Computer lifted its fully year sales outlook, signalling growing demand for AI chips.

The company, which works closely with Nvidia, now expects $14.7bn to to $15.1bn in sales for its fiscal year that will end in June, better than the $14.6bn analysts expect.

Revenues rose 200 per cent from a year ago in Super Micro’s most recent quarter, but were slightly below consensus estimates at $3.85bn. Earnings per share rose more than expected, by 15 per cent, to $6.65 a share.

Separately, US chip designer AMD on Tuesday gave modest guidance for the current quarter, estimating revenue of between $5.4bn and $6bn, with consensus estimates at the midpoint. Its sales and profits last quarter were both slightly above expectations.

Articles You May Like

Colorado property tax growth limit is a negative credit factor: Moody’s
Stocks making the biggest moves after hours: Salesforce, UiPath, Capri, Pure Storage and more
House of Lords votes through leasehold reform bill without cap on ground rents
Tax measure for ailing Bay Area transit system advances, with caveat
Washington airport authority is coming to market with $829 million