AMD stock falls 8% due to lower Q4 revenue guidance and AI chip supply issues

From Investing.com: 2024-10-30 05:07:37

Advanced Micro Devices (AMD) disappointed investors with guidance for current-quarter revenue and AI chip sales, leading to an 8% drop in premarket trading. CEO Lisa Su mentioned tight supplies of AI chips heading into 2025 due to soaring demand from tech giants like Microsoft and Meta Platforms. Despite projecting $7.5 billion in revenue for Q4, slightly below analyst estimates, AMD increased its AI chip sales forecast for next year to $5 billion. Analysts at Morgan Stanley noted that AMD’s returns were in line with expectations, with strong performance in data center and client business, but weaker gaming unit sales.



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