On Thursday First Solar (FSLR) lost 9.29% in value after Jefferies cut its third-quarter expectations.
The brokerage wrote that First Solar may face potential delays caused by module pricing from AD/CVD determinations. It also expects excess supply from Indian capacity into the U.S. The firm predicted that the solar energy firm would not add to its backlog in the third quarter. It estimated a backlog addition of 2 GW. The consensus estimate is a 3.2 GW backlog increase.
Investors should wait for First Solar to report results before assuming the firm would report weak results.
Enphase Energy (ENPH) dropped by 5.82% to close below $100. The stock typically cycles between $100 and $120. Despite the drop in sympathy with FSLR stock, shares are not cheap. The price-to-earnings ratio is over 110 times, above the 29.7 times sector median multiple.
On Thursday, Advanced Micro Devices (AMD) announced a new AI chip. The Turin EPYC data center CPU and the Instinct MI325x AI accelerator are AMD’s two new products. In addition, it also unveiled the Ryzen AI Pro 300 Series.
AMD said that the MI325x is better than Nvidia’s H200 HGX, depending on the parameters. Despite the firm expecting the MI325x launch this year, AMD stock fell by 4.0%.
In 2025, it will launch the MI350 and in 2026, it will release the MI400 servers.
