AMD Is Getting Battered After a Weak Revenue Forecast. Here’s What Wall Street Is Saying
Photographer: Ashley Pon/Bloomberg
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Advanced Micro Devices Inc. shares slid 20 percent after a weak revenue forecast for the fourth quarter that the company blamed on flagging demand for its graphics chips. Analysts cautioned that the company may have more disappointing quarters ahead as it grapples with new products from competitors and remaining cryptocurrency headwinds. Peer Nvidia Corp. slipped 0.6 percent at 9:31 a.m. in New York.
The forecast miss “may draw out AMD bears who will point to its historically inconsistent execution,” Bloomberg Intelligence analyst Anand Srinivasan wrote to investors.