AMD forecasts second quarter below estimates with slow chip demand

:Advanced Micro Devices forecast second-quarter revenue below estimates on Tuesday, showing the chip firms will continue to face challenges as PC sales and the data center market remain weak.

Enterprise, cloud, and China server customers have been cutting orders, with AMD rival Intel expecting data center demand to decline throughout the first half and recover only moderately in the second half. The weakness is also pronounced amid US cloud customers, analysts said. AMD forecast current-quarter revenue of about $5.3 billion, plus or minus $300 million. Analysts polled by Refinitiv were expecting revenue of $5.48 billion.

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