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Thursday's Stock Deals: Starbucks, AMD, and Super Micro Computer
After posting disappointing quarterly results, markets are selling off Starbucks (SBUX). The restaurant raised prices by too much and too fast, hurting comparable sales.
SBUX stock is 15.88% off today. The firm posted comparable store sales falling by 4% when shareholders expected growth. Total revenue fell by 1.8% Y/Y to $8.56 billion. The CEO said that Starbucks has a powerful brand and must apply its capabilities to the opportunities ahead.
Although Starbucks trades at a lower stock price, the valuation is still unfavorable. Avoid the stock for now.
In the AI semiconductor supply segment, Advanced Micro Devices (AMD) is too far behind Nvidia (NVDA) in the gaming GPU market and the server AI segment. In Q1, the firm earned only two cents a share (on a GAAP measure), compared to the 62-cent non-GAAP EPS reported. Revenue increased by 2.2% Y/Y. The company posted record data center revenue growing by 80% Y/Y to $2.3 billion. However, the gaming segment revenue fell by 48% Y/Y.
Priced for perfection Super Micro Computer (SMCI) lost 14% yesterday. Although Q3/2024 results exceeded expectations, management discussed the need to sell shares to raise cash. It needs to increase investments to meet the strong demand for its servers. This dilutes shareholders and increases risks.
Bulls may bet on SMCI continuing to exceed targets despite supply chain issues. Furthermore, the firm does not have any inventory risks in 2024.
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