Silicon Motion delivered an upbeat second-quarter earnings report, which drove SIMO stock higher on Thursday. It was a positive day overall for chip stocks.
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SIMO is set to report Q2 earnings with rising estimates, a modest surprise track record and growing enterprise and embedded storage momentum.
(Bloomberg) -- For much of the year, chip stocks have been powering the market higher. Now, Nvidia Corp.’s earnings have a chance to confirm that the rally has more room to run — or add another brick to investors’ wall of worry.Most Read from BloombergUS Lawmakers Plan New $130 Fee for Electric Vehicle OwnersNATO Is Starting to Consider Hormuz Mission to Protect ShipsHasbro Cancels Dungeons & Dragons Game From ‘Star Wars’ VeteranUS 30-Year Yield Hits Highest Since 2007 as Selloff DeepensBilliona
SIMO tops Q1 estimates as controller demand surges, with AI and enterprise growth fueling record revenue and a strong outlook for Q2.