Diamonds and Dogs
Advanced Micro Devices (AMD) still sees strong chip demand. The stock is up 3% following strong earnings. Sales rose 70% to $5.89 billion. AMD boosted their full-year revenue outlook, as cloud demand more than offset a slump on PC-related sales. AMD also closed on their Xilinx merger which will provide a new set of end markets with strong demand to new business.
Lyft (LYFT) not lifting. The ride sharing stock is down 33% following earnings. Earnings were okay as sales surged 43.8% to $875.6 million as people flocked back to ride sharing demand. But Lyft lowered guidance due to higher costs and a driver shortage. A spike in gas prices hasn't helped either.The company is struggling to provide a profitable business model.
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