AMD stock is sliding after earnings, and these numbers show why

Advanced Micro Devices Inc. shares tumbled nearly 7% in after-hours trading Tuesday, after the chip maker reported a big drop in margins and provided a forecast that doesn’t suggest immediate improvement.

AMD AMD reported a first-quarter net loss of $139 million and revenue fell to $5.3 billion, fueled by big declines in PC sales and gaming. After a big boom in sales during the COVID-19 pandemic, PC sales dropped in 2022 and sank 29% in the first quarter of 2023. Full earnings coverage: ‘AI for us is broader than cloud,’ AMD CEO says, but chip maker still needs PC recovery to improve margins

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.

AMD faces doubts after Intel earnings: Is the bar set too high?Advanced Micro Devices Inc. won't have the dismally low expectations that Intel Corp. had to clear last week when it reports its results.
Source: MarketWatch - 🏆 3. / 97 Read more »

AMD shares sink on forecast miss as PC market remains weakAdvanced Micro Devices shares slumped on Tuesday after the chipmaker forecast quarterly sales below estimates due to a weak PC market, overshadowing the company's optimism that the chip market would start to recover in the second half of 2023.
Source: Reuters - 🏆 2. / 97 Read more »