Advanced Micro Devices Inc. gets to show Wall Street if it “certainly” ended 2022 in a better place, after the price of clearing inventory helped gut results from rival Intel Corp.AMD Chief Executive Lisa Su said three months ago that the company’s outlook, which... Advanced Micro Devices Inc. gets to show Wall Street if it “certainly” ended 2022 in a better place, after the price of clearing inventory helped gut results from rival Intel Corp.
Read: ‘It’s not an earnings release, it’s a crime scene’: Analysts, and social media, react to Intel’s awful quarter Rasgon said the PC market has worsened considerably, to the point where his “belief that AMD would prove relatively more immune to channel degradation proved unfortunately incorrect.” “In response, we have seen AMD’s new client parts available at heavy discounts at retail less than 2 months after launch ,” Rasgon said.AMD, Intel, and Nvidia Corp. NVDA had all poured new models of gaming cards into the holiday channel at a time when PC shipments are dropping at their steepest recorded rates and a wave of secondhand graphics-processing units, or GPUs, hit the market as unprofitable cryptocurrency-mining operations folded.