Reported 27 days ago
Advanced Micro Devices (AMD) saw its stock decline by 7.6% in after-hours trading following a weaker than expected fourth-quarter revenue guidance, although its third-quarter results slightly exceeded expectations. Despite the drop, AMD's management raised its forecast for 2024 AI chip sales to over $5 billion, up from a previous estimate of $4.5 billion, reflecting strong demand particularly in the data center segment. The company reported significant revenue growth year-over-year, driven by increased sales of GPUs and CPUs.
Source: YAHOO