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Communication Services : Diversified Telecommunication Services | Large Cap Value
Company profile

AT&T Inc. is a holding company. The Company is a provider of telecommunications, media and technology services globally. The Company operates through three segments: Communication segment, WarnerMedia segment, and Latin America segment. The Communications segment provides wireless and wireline telecom, video and broadband services to consumers. The business units of the Communication segment includes Mobility, Entertainment Group and Business Wireline. The WarnerMedia segment develops, produces and distributes feature films, television, gaming and other content over various physical and digital formats. WarnerMedia segment also includes Xandr, which provides advertising services. Latin America segment provides wireless services in Mexico. Mexico is the business unit of the Latin America segment. Its Xandr segment provides advertising services.

Postmarket

Last Trade
Delayed
$27.04
0.03 (0.11%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$27.01
Day's Change
0.05 (0.19%)
Bid
--
Ask
--
B/A Size
--
Day's High
27.21
Day's Low
26.99
Volume
(Below Average)
Volume:
31,681,354

10-day average volume:
36,474,299
31,681,354

AMD stock scores sixth straight record high as more data shows gains against Intel

4:09 pm ET August 4, 2021 (MarketWatch)
Print

By Wallace Witkowski

Shares have rallied 35% since earnings report showed chip maker succeeding against larger rival, and new data shows market-share wins in data center, microprocessors

Advanced Micro Devices Inc. shares closed at a sixth consecutive record high on Wednesday following continued indications that the chip maker is taking market share away from larger rival Intel Corp.

AMD (AMD) shares closed up 5.5% at a record $118.77 Wednesday, after carving out a new all-time intraday high of $122.49. Shares closed at a then-record $112.56 on Tuesday (https://www.marketwatch.com/story/amd-stock-closes-at-fifth-straight-record-high-following-report-nvidia-arm-deal-may-get-blocked-11628020964). The sixth straight day of record-high closing prices coincides with a sixth straight day of gains of 2% or more. The last time AMD shares experienced such a streak was June 2, when the stock rose for seven days in a row, according to Dow Jones data.

Coincidentally, AMD's streak began on July 28 (https://www.marketwatch.com/story/amd-stock-rises-as-data-center-gaming-segment-sales-nearly-triple-11627417746), the day after the company said it expected stronger data-center sales in the second half of the year, even as quarterly sales nearly tripled from those of a year ago, and hiked its revenue forecast to a 60% gain for the year. Since then, shares have rallied as much as 35%, while Intel (INTC) shares, which closed down 0.3% Wednesday, have gained 1% since July 28.

Read: AMD's stock surges to record high while chip maker takes more market share from Intel (https://www.marketwatch.com/story/amd-stock-flirts-with-record-highs-while-chip-maker-takes-more-market-share-from-intel-11627487890)

Additionally, the PHLX Semiconductor Index closed at its fourth record high in a row at 3,436.90, having finished at 3,396.66 on Tuesday. Chip stocks have been popular amid a global shortage of semiconductors that has pushed prices up.

For more: The chip crunch marches on, but one sector could be in store for relief (https://www.marketwatch.com/story/the-chip-crunch-marches-on-but-one-sector-could-be-in-store-for-relief-11626109637)

Citi Research analyst Christopher Danley, who has neutral ratings on both AMD and Intel, wrote in a Wednesday note that data from Mercury Research showed that while total microprocessor shipments had declined 3.1% quarter-over-quarter, AMD's total share of the market increased to 16.9% in the second quarter from 16.1% in the first quarter. Meanwhile, Intel's share fell to 83.1% in the second quarter from 83.9% in the first quarter.

The data also showed gains for AMD in the important data-center category. The Mercury data showed AMD with 8.9% share in servers, up from 5.5% in the year-ago second quarter and 8.2% in this year's first quarter. That's compared with Intel's 91.1% share, down from 94.5% in the year-ago second quarter and 91.8% in the first quarter.

Additionally, a Wednesday report from tech news site wccftech.com (https://wccftech.com/amd-ryzen-desktop-cpus-continue-to-outsell-intel-core-cpus-zen-3-best-seller-at-several-retailers/) noted that AMD CPUs are still outselling Intel, according to data compiled from MindFactory, Germany's largest tech retailer.

Opinion: Semiconductor stocks are rallying -- and they still look like bargains (https://www.marketwatch.com/story/semiconductor-stocks-are-rallying-and-they-still-look-like-bargains-11627924927)

On Tuesday, AMD announced its line of Radeon Pro W6000X series of GPUs (https://ir.amd.com/news-events/press-releases/detail/1016/new-amd-radeon-pro-w6000x-series-gpus-bring)would be available in Apple Inc. (AAPL) Mac Pro desktops. The addition of AMD's high-powered graphics cards to the already-pricey $6,000 (https://www.apple.com/us-hed/shop/buy-mac/mac-pro/rack#)Mac Pro can tack on up to another $10,000 to the workstation's sticker price.

Another tailwind for AMD shares could be coming from a Bloomberg report (https://www.bloomberg.com/news/articles/2021-08-03/u-k-considers-blocking-nvidia-s-takeover-of-arm-over-security) Tuesday that the U.K. may block GPU rival Nvidia Corp.'s (NVDA) $40 billion acquisition of Arm from Japan's SoftBank Group Corp. , citing national security reasons, a development that could benefit AMD.

-Wallace Witkowski

	

(END) Dow Jones Newswires

August 04, 2021 16:09 ET (20:09 GMT)

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