AMD Suffers Worst Rout Since 2017 on Disappointing Forecast

Advanced Micro Devices Inc. suffered its worst stock decline in nearly nine years after the chipmaker’s sales forecast underwhelmed investors, a sign it’s not making the AI inroads that Wall Street anticipated.

First-quarter sales will be roughly $9.8 billion, plus or minus $300 million, the company said in a statement Tuesday. Analysts had estimated $9.39 billion on average, but some projections topped $10 billion, according to data compiled by Bloomberg.