Sunnyvale, California based AMD (NSDQ:AMD)recently clinched a deal to put its GPUs in Google’s cloud platforms. Coming after AMD’s Alibaba (NYSE:BABA)deal last month, this deal is a much bigger win, and could open the doors to many more deals in the cloud services space, which have eluded AMD so far. By virtue of its early lead, this space has been dominated by arch rival Nvidia. Both, Amazon’s AWS and Microsoft’s Azure reportedly use only Nvidia GPUs at the moment. However, that could potentially change following this deal, owing to a combination of factors. Here’s why this deal could potentially be followed by a slew of other deals over the coming months.
AMD Will Benefit From The Cloud Battle
The battle is heating up in the cloud services space, and whichever way that goes, AMD may emerge as one of the beneficiaries. On November 15th, Alphabet Inc’s (NSDQ:GOOGL)Google announcedthat starting from early 2017, it would offer GPUs made by AMD and NVIDIA (NSDQ:NVDA)toGoogle Compute Engine and Google Cloud Machine Learning users. The announcement is a big win for AMD for multiple reasons.
Hot Safest Stocks To Buy Right Now: Firsthand Technology Value Fund, Inc.(SVVC)
- [By Hibah Yousuf]
Similarly, Twitter is also the biggest holding in the Firsthand Technology Value Fund (SVVC). With just over 1 million shares of the social media platform, Twitter represents nearly 11% of the total portfolio as of mid-year. Shares of Firsthand Technology Value jumped more than 6% Friday.
Hot Safest Stocks To Buy Right Now: Chimerix, Inc.(CMRX)
- [By WWW.MONEYSHOW.COM]
The lead product candidate from Chimerix (CMRX) is brincidofovir (CMX001), a nucleotide analog.
The drug is in Phase III clinical trials for the prevention of cytomegalovirus (CMV) in allogeneic hematopoietic cell transplant (HCT) recipients and in kidney transplant recipients, as well as to treat adenovirus infection in allogeneic HCT patients.
Hot Safest Stocks To Buy Right Now: iShares Nasdaq Biotechnology Index Fund(IBB)
- [By Kumar Abhishek]
It has not been a good year for Gilead Sciences (NSDQ:GILD) shareholders. Gilead stock is down bymore than 25% YTD and almost 30% in last one year. The stock has not only heavily underperformed the broader marketbut has also lagged the sector index iShares NASDAQ Biotech Index ETF (NSDQ:IBB) which is down nearly 17% YTD.The poor performance of the stock is mainly caused by declining HCV sales numbers. HCV was the main growth driver for Gilead till a few quarters back. But the sales in this segment have seen aconsistent decline over the last few quarters which has lead to an increasingly bearish sentiment around the stock. Many analystsbelieve that the bearish sentiment is overdone, and the stock will rebound on strong fundamentals.
- [By Ben Levisohn]
Of course, Donald Trump took on the health care industry in his press conference today, so Gilead’s shares–and just about every other biotech and pharmaceutical company–are getting smacked down. Its stock fallen 2.4% to $25.03 at 3:30 p.m. today, while the iShares Nasdaq Biotechnology ETF (IBB) has fallen 2.9% to$278.49.
- [By Ben Levisohn]
One reason for this is the market’s continued ability to leverage what’s working and treat laggards in isolation. Biotechs had led early this year. But as profiled Monday, the iShares Nasdaq Biotech ETF (IBB) had just gotten back to that key resistance line (near 280), which had stunted many similar oversold rallies last year. So, while the pullback isn’t surprising, it is discouraging, especially if it means the IBB could waste the chance of leveraging the longer term bottoming formation.