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Why Intel, Broadcom, and Indie Semi Stocks All Popped Today

TheMotleyFool 
0 0 16.10.23
Why Intel, Broadcom, and Indie Semi Stocks All Popped Today: https://g.foolcdn.com/editorial/images/751152/semiconductor-computer-chip-with-the-letters-ai-in-the-middle.jpg
 

Shares of semiconductors giants Intel (NASDAQ: INTC) and Broadcom (NASDAQ: AVGO) were eking out small gains in early afternoon trading Monday, up 2% and 1.8%, respectively. Meanwhile, tiny rival Indie Semiconductor (NASDAQ: INDI), a specialist in chips designed for use in automobiles, had raced ahead by 19.8% after pre-announcing third-quarter revenue numbers that pleased Wall Street mightily.

This is no huge surprise, given the news Indie Semiconductor announced Monday. According to the company, its Q3 revenue will be above its own guidance, above $60 million -- and therefore, almost certainly above analysts' consensus estimate of $60.02 million.  

Unless Indie "beats" expectations by no more than a rounding error, this quarter could be a blowout. Granted, management hasn't said by exactly how much it will exceed them, and even acted to temper investor enthusiasm by saying revenue will be only slightly ahead of consensus estimates.

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Source Fool.com

Nordic Semiconductor Stock

€10.89
2.450%
Nordic Semiconductor gained 2.450% today.

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