From NBC News: 2024-05-01 16:35:07

Shares of Advanced Micro Devices (AMD) dropped 7.3% after reporting disappointing first-quarter results and guidance. While revenue rose 2% to $5.47 billion, adjusted earnings per share increased to $0.62. AMD expects to sell $4 billion in AI chips this year but continues to lag behind Nvidia. The stock has more than doubled in 2023, but recent declines reflect AI expectations not being met. Investors should consider Stock Advisor’s 10 best stocks over AMD. The company still has potential in AI, with data center revenue growth, but gaming and embedded segments are impacting overall performance.



Read more at NBC News: Advanced Micro Devices Stock Is Tumbling Today. Here’s What You Need to Know