This post was originally published on this site
The stock has surged 10.8% in price over the past month and 26.5% over the past three months to close yesterday’s trading session at $25.35, driven by investors’ optimism about the company’s differentiated AI-based technology solutions. However, the company’s lower-than-expected third-quarter results caused investors some concern. As a result, the stock fell 4% in price in early trading on Wednesday after its quarterly report delivered a negative earnings surprise.
The company’s $5.09 billion in third-quarter revenue fell short of the $5.34 billion consensus estimate, due to the current supply chain crisis and high raw material costs. These conditions could negatively impact the company’s share price in the near term.