Summary : In particular, their results and commentary on cloud growth are positive for three of our semiconductor stocks: Advanced Micro Devices (AMD), Marvell Technology (MRVL) and Nvidia (NVDA). It’s no secret 2022 has not been kind to semiconductor stocks, but a key part of our long-term thesis in companies like AMD, Marvell and Nvidia is the large opportunity in data center as more computing moves to cloud. That’s good news for AMD, Marvell and Nvidia, which we believe still have bright long-term futures because their chips enable this technological transformation. Guidance for Azure and other cloud services in its fiscal first-quarter 2023, or current quarter, looks pretty good, too, coming in at roughly 43% year-over-year growth in constant currency.
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