Hopper58 schreef op 5 november 2024 10:00:
Grappig: hier wordt AMD verwisseld met Micron Technology. Ga het toch even in de gaten houden pre-opening op de Nasdaq. Misschien mooi bijkoopmoment. Maar zo zie je toch maar weer de kwaliteit van de berichtgeving:
'AMD Stock Plummets Amid Audit Resignation and Delisting Concerns
GuruFocus News
4 hours ago
Advanced Micro Devices (AMD, Financial) recently faced a sharp decline in its stock price due to the resignation of its auditor and rumors of potential delisting, sparking widespread concern. Previously considered a strong partner of NVIDIA, AMD's current troubles have drawn significant industry attention.
Reports suggest that NVIDIA is taking decisive actions to mitigate the risks associated with AMD by reallocating orders originally meant for AMD to other suppliers. As a result, AMD's competitors such as Gigabyte and ASRock have seen increased client inquiries, prompting these companies to revise their revenue and shipment forecasts for the fourth quarter and the entire year. They have already secured contracts with major clients like CoreWeave.
Gigabyte's financial report mentioned its accelerated deployment of liquid cooling technology to support NVIDIA's rapid growth. Meanwhile, ASRock reportedly captured AMD's small to medium-sized client orders, achieving a record-breaking revenue for the third quarter.
Concerns about AMD's financial situation were initially raised in late August when Hindenburg Research released a short-selling report, leading to apprehension over its financial statements. Subsequently, AMD delayed its annual 10-K report submission, although it assured that there would be no significant changes in the fiscal year 2024.
Last week, Ernst & Young, AMD's audit firm, resigned, citing the unreliability of the company's financial statements. If AMD fails to submit its financial reports by November 20, it risks severe sanctions, including delisting. Consequently, AMD's stock plummeted by over 45%. If the rumored order reallocation by NVIDIA is confirmed, AMD's challenges are likely to intensify.
Previously, NVIDIA's endorsement boosted AMD's performance and stock, positioning it as a core stock in the AI sector. However, current developments have transformed AMD into a significant liability within the semiconductor industry, affecting associated companies like Leadtek, AIC, and Chenbro.
The industry remains uncertain about the full extent of the impact, but stakeholders are cautiously monitoring the situation to manage the risk.
www.gurufocus.com/news/2582350/amd-st...