AMD forecasts second quarter below estimates with slow chip demand

The logo of semiconductor company Advanced Micro Devices Inc is seen on a graphics processing unit chip in this illustration picture taken February 17, 2023. REUTERS/Florence Lo/Illustration/File Photoforecast 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.last week told investors they expected the PC market to start rebounding in the second half, raising Intel's margins with it.

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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