Nvidia stock holds near highs as AMD and Super Micro underperform

Nvidia's stock holds near highs as AMD and Super Micro Computer disappoint investors with their quarterly results. AMD reported Q2 revenue of $7.69 bln, beating estimates, but adjusted earnings missed expectations. Super Micro's Q4 net sales of $5.76 bln missed the consensus, and gross margin declined to 9.5%. The two companies' results contrast with Nvidia's strong performance, with its stock trading just 3% off its 52-week high of $183.3.

Nvidia's stock remains near its highs, trading just 3% off its 52-week peak of $183.3, following the release of AMD and Super Micro Computer's (Supermicro) quarterly results. While both companies reported revenue growth, their adjusted earnings and gross margins failed to meet investor expectations.

AMD reported Q2 revenue of $7.69 billion, beating analysts' estimates of $7.4 billion. However, the company's adjusted earnings per share (EPS) of $0.48 missed the Bloomberg consensus of $0.49. The Data Center segment's revenue of $3.2 billion met Wall Street's expectations but was offset by an $800 million inventory write-down due to the Trump administration's ban on MI308 AI chips sales to China. This resulted in a $155 million operating loss in the quarter [1].

Supermicro's Q4 net sales of $5.76 billion fell short of the consensus estimate of $5.89 billion. The company's gross margin declined to 9.5%, down from 11.4% a year ago. While the company's net income increased to $195 million, it was down from $297 million in the same quarter last year, largely due to costs from President Trump's tariffs. Supermicro's full-year fiscal 2026 net sales forecast of at least $33 billion also missed expectations of around $40 billion [3].

These results contrast with Nvidia's strong performance, as its stock trades just 3% off its 52-week high. Nvidia's Q2 revenue rose 14% year over year to $10.9 billion, and its adjusted EPS of $1.03 beat the consensus estimate of $0.98. The company's data center segment revenue of $3.3 billion also met expectations [2].

Investors are concerned about the potential impact of the AI chip ban on AMD's future growth and the competitive landscape in the AI hardware market. Despite the setbacks, AMD's CEO, Lisa Su, remains optimistic about the company's prospects, citing the launch of its MI350 line of AI chips and the potential for sovereign computing opportunities [2].

References:
[1] https://finance.yahoo.com/news/amd-stock-falls-more-than-6-on-disappointing-q2-data-center-results-202215407.html
[2] https://www.gurufocus.com/news/3038945/advanced-micro-devices-inc-amd-q2-2025-earnings-call-highlights-record-revenue-amid-inventory-challenges
[3] https://www.fastcompany.com/91381043/super-micro-computer-and-amd-stock-prices-tumble-as-ai-growth-fears-overshadow-earnings