AMD Gives Optimistic Revenue Outlook on Strong Demand
- Chipmaker appears to be taking server market share from Intel
- Second-quarter revenue almost doubled to $3.85 billion
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Advanced Micro Devices Inc. gave a bullish third-quarter sales forecast, indicating it’s gaining market share from Intel Corp. in the lucrative market for server chips.
AMD, the second-largest maker of computer processors behind Intel, predicted third-quarter revenue will be about $4.1 billion, plus or minus $100 million. On average, analysts had projected revenue of $3.8 billion. The company also raised its annual outlook and now expects revenue to increase by 60% up from a previous forecast for 50% growth.