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AMD Surges Past Nvidia in Historic Stock Shift
15 Nov
Summary
- AMD stock outperformed Nvidia by a record 53.2 percentage points over five trading days.
- AMD gained 44.7% while Nvidia dropped 8.5% in a recent five-day period.
- AMD's year-to-date stock gain is 149.4%, contrasted with Nvidia's 12.7% loss.
AMD recently achieved its most significant stock outperformance compared to Nvidia, widening the gap by 53.2 percentage points over a five-day trading period. This remarkable rally saw AMD's stock climb 44.7% while Nvidia's declined by 8.5%. Year-to-date, AMD has surged 149.4%, a stark contrast to Nvidia's 12.7% decrease.
The recent surge in AMD's stock coincided with growing scrutiny of Nvidia's CEO. AMD has also reported impressive financial results, with third-quarter revenue rising 45% year-over-year to a record $13.4 billion, driven by a near doubling of data center sales to $8.5 billion.
However, AMD's impressive run faced a test on Friday, with its stock falling 8.75% amid a broader chip stock sell-off influenced by rising Treasury yields. Investors are now awaiting Nvidia's upcoming earnings report, which will provide insight into the company's outlook under its new interim CEO and could significantly impact the entire semiconductor sector, including AMD.
Nvidia is scheduled to release its third-quarter earnings after the US market closes on Tuesday. While the results will reflect former CEO Jensen Huang's tenure, the guidance provided for the subsequent quarter will be the first under interim CEO Colette Kress. Analysts anticipate strong revenue figures, but the market's reaction will depend heavily on the forward-looking guidance.
