AMD fails to reach expectations

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Source: Dukascopy Bank SA


Advanced Micro Devices has reported lower than expected revenues and earnings per share. The news have caused a major sell off of all chip company stocks.

The company has reported a revenue of $5.4 billion, which is below the market consensus forecast of $5.73 billion. The failure to gain expected revenues for some reason has overshadowed the fact that the company has increased its AI processor projections from $2 billion up to $3.5 billion.

The stock price of the company has dropped 4.20% at the start of Wednesday's trading.
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