Source: Golden Ten Data
Historical data shows that when Nvidia's performance is excellent, AI-related stocks such as AMD tend to rise sharply.
According to CNBC Pro's analysis, six AI-related stocks tend to respond positively to Nvidia's quarterly results. This analysis comes at a time when Nvidia will release earnings for the first quarter of this year after the market closes on Wednesday. Five US listed stocks —$Super Micro Computer (SMCI.US)$,$Advanced Micro Devices (AMD.US)$,$Marvell Technology (MRVL.US)$,$Vertiv Holdings (VRT.US)$und$Synopsys (SNPS.US)$——As well as those listed in Japan$Advantest (6857.JP)$After Nvidia announced its results, its stock prices all rose 6% to 33%.
CNBC Pro screened chip stocks in the MSCI World Index that rose in both the fourth quarter of 2023 and the first quarter of 2023. Wall Street analysts expect Nvidia to once again exceed expectations on Wednesday, and currently estimates earnings per share of $5.52. However, some analysts have warned that AI chip stocks may not have reacted so clearly this time around.
Ultramicrocomputer
As a technology infrastructure company, ultra-microcomputers have become one of Wall Street's biggest winners in AI investment enthusiasm. The stock surged more than 900% over the past year. The computer servers manufactured by the company include a graphics processing unit (GPU) designed by Nvidia — an AI chip. Since Nvidia last reported quarterly results, the stock has risen 33%, and when Nvidia announced first-quarter results a year ago, the stock also rose more than 23%.
American Micromicro
As Nvidia's biggest competitor, AMD's stock price also rose after Nvidia's results were announced. After Nvidia's most recent results announcement, AMD shares rose 10.7% and rose 11.2% in the same period last year. This surge in valuations reflects investors' continued enthusiasm for designing and selling AI GPU companies. Last year, AMD announced a new chip that can compete with the Nvidia H100, the current standard for AI applications. Analysts also believe AMD is improving its AI software, which removes a key reason why Nvidia chips are superior to AMD chips.
Edwin test
As the world's largest manufacturer of microchip testers, AdvanTest is also benefiting from AI-induced stock market gains. This Japan-listed stock has risen 165% since 2023, following the launch of the chatbot ChatGPT. The company's sales to Nvidia account for approximately 1% of total revenue. The stock rose 7.5% after Nvidia last reported quarterly results, and rose 16.2% after the announcement of the first quarter results of 2023. The stock is also frequently traded on US OTC and exchanges as American Depositary Receipts (ADR).
editor/tolk