AMD shares sink on forecast miss with chip market weak

:Shares of Advanced Micro Devices fell on Tuesday after a second-quarter forecast missed Wall Street expectations, overshadowing optimism from company executives that the battered chip market will start to recover in the second half of 2023.

"AMD results were more vulnerable than Intel's because most AMD-based PC customers were consumers. In contrast, Intel had a significant share in the business PC segment," said Mikako Kitagawa, analyst at research firm Gartner."The results reflect a weaker consumer PC segment than the business PC segment."

But in the meantime, the company is still grappling with a depressed PC market. Dean McCarron, head of chip market tracking firm Mercury Research, said both AMD and Intel are selling fewer chips to PC makers, hoping those customers will burn off a glut of chips on their shelves.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cyber security firm Check Point keeps 2023 outlook after Q1 beatJERUSALEM :Check Point Software Technologies reported on Monday higher than expected first-quarter profit on high demand for its products in the face of increasing cyber attacks, and kept its outlook for the full year.The Israeli-based company cited solid growth over the first three months of the year from it
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »