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After releasing their first-quarter results, AMD and Airbnb shares rose more than 3% each.
Today, Wall Street is optimistic about economic growth and recovery, particularly in the technology sector. Travel sector stocks rose after releasing Airbnb’s first-quarter results this morning.
After two difficult years, the travel industry in the United States has managed to re-establish itself.
Beating all forecasts initiated by Wall Street, Airbnb revenues jumped by 70% in the first quarter despite concerns about rising fuel and energy prices. The Ukrainian crisis had pushed energy prices to higher levels, which had affected the travel industry, especially airline companies.
A different report last month supports these claims that some companies had to delay more than 30% of their flights due to rising energy prices.
Yet, today’s results represent a sort of hope for inverts who were counting on positive results this week.
Airbnb’s first-quarter results contained detailed financial information. For example, the company managed to deliver 102.1 million nights and experienced bookings. This result was a bit surprising because who thought that Airbnb would surpass the pre-pandemic levels?
The company’s revenues are expected to be around $1.45 billion, yet the report shows $0.1 billion increased to $1.55 billion. Hours after releasing the report, the company’s shares rose by 3%.
The Nasdaq increased by 27.7 basis points, the S&P increased by 20 basis points, and the Dow industrial index increased by 66 basis points.
As for the travel industry, experts believe that by the summer, all airlines and travel companies will return to their pre-pandemic level.
On the other hand, AMD had calmed the expert’s worries about a future chip shortage. AMD sales rose 71% year over year, calming worries about a chip shortage crisis. The company’s revenues rose massively, despite the high cost of chips and the supply chain shortage that the world is struggling with.
As for the semiconductor and chip industry, due to rising tension between the U.S and China, big names and companies have decided to develop and produce their own chips. From an expert’s perspective, making your own chips has enormous advantages. First, it will lower the costs, and second, it will improve the quality of products and unity.
Beating all expert expectations, AMD shares also rose more than 3% today, hours after announcing or releasing the first-quarter results.
At a certain point last year, some analysts believed that the trend that PC sales would outperform the market was over. Some even say that the PC trend is about to go away. However, AMD’s first quartet of results had a different opinion.PC sales are still a trend that means more success and gains in the future.
However, things are a bit more complicated than it seems, especially when China is now moving to declare Taiwan as a Chinese district. Taiwan is the world ship supplier, if China succeeds at any kind that means its chip sales will outperform the U.S sales.
And therefore, the whole PC, smartphone, and even Evs sales, especially when you see Ev’s companies like NIO, Xpeng, and Li Auto planning to expand internationally and compete against Tesla.
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