Month: April 2020

Advanced Micro Devices (AMD) has chopped around the $50s for a few weeks heading into Q1 earnings as work-from-home and virtual telemedicine demand has boosted the need for computers and data centers. At the same time, the shutdown of the global economy is expected to ultimately damper electronics demand in the near term while the chip company is positioned to slowly take market share from Intel (INTC).In not much of a surprise, AMD widened the annual revenue guidance range for the year due to economic uncertainty around consumer demand due to the coronavirus outbreak. The high demand in data centers …read more […]

(Bloomberg) — Advanced Micro Devices Inc. gave a lackluster forecast for the current period, suggesting the chipmaker is benefiting less than rival Intel Corp. from the surge in spending on computing to support working from home.Second-quarter revenue will be about about $1.85 billion, Santa Clara, California-based AMD said Tuesday in a statement. That compares with the average analyst estimate of $1.88 billion, according to data compiled by Bloomberg. The company said it expects annual sales growth of about 25%, which also may fall short of analysts’ projections.AMD’s stock fell about 4% in extended trading. The shares, which traded at $2.87 …read more […]

On Tuesday, AMD reported first-quarter adjusted earnings of $0.18 that were in-line with estimates. Unlike many other companies, the chipmaker did not rescind annual guidance. For the second quarter of 2020, AMD expects revenue to be approximately $1.85 billion, and expects 2020 revenue to grow by approximately 25%. …read more […]

(Bloomberg) — Bank of America Corp. sent 184,000 applications for rescue loans to the Small Business Administration from Sunday to early Monday morning.The lender is waiting for the SBA to process and approve the loans, according to an internal memo sent Tuesday by Dean Athanasia, president of the consumer and small-business division. Bank of America has 48,000 more client applications ready to submit, and has been uploading those through the SBA’s slower process, he wrote.“Today, we will communicate to each client whose application has been submitted to the SBA, advising them the loan application has been submitted, and we will …read more […]

Starbucks has continued to pay its employees throughout the crisis. …read more […]

The COVID-19 lockdown didn’t just trigger a rush to buy toilet paper.
When Americans aren’t sitting on the can, they’re parked on their butts somewhere else.
A historic amount of electronic equipment is flying off the shelves.
Many of the top-rated microphones and 4K video capture cards are sold out.
Webcam sales are up 179%, thanks to the dramatic rise in teleconferencing. And with those, sales of PC monitors and headsets also spiked more than 100%.
But the stay-at-home economy is creating booms that I believe will last long after the pandemic is over. New consumer spending patterns are locking in place. And this is …read more […]

Click here to read the full article. YouTube generated $4.04 billion in ad revenue for the first quarter of 2020, up 33% from the year prior. Alphabet, the parent company of Google and YouTube, topped Wall Street estimates for Q1 revenue but fell short on net profit.Overall, Alphabet reported $41.16 billion in revenue and adjusted net income of $6.84 billion ($9.87 per share). Wall Street analysts on average expected Alphabet to post revenue of $40.38 billion and EPS of $10.33.Alphabet first broke out YouTube revenue in announcing fourth-quarter and full-year 2019 results, along with sales for Google Search and Google …read more […]