Advanced Micro Devices (AMD) reported robust fourth-quarter earnings exceeding analyst expectations, particularly in the CPU segment and data centers. However, the company's outlook for its AI business disappointed investors, who are concerned about AMD's competition with rival Nvidia. The forecast indicates stagnation in revenues for the first half of 2024, with growth only expected in the latter half. Despite a 58% year-on-year increase in client revenue, investors reacted negatively, causing AMD's stock to decline by 9.5% in pre-market trading following the earnings report.
Advanced Micro Devices reported solid fourth-quarter earnings but disappointed investors with its outlook for the data center market, particularly its AI business.
AMD's Q4 results showcased strong performance in CPU and data centers, but the outlook for H1 revenue indicates stagnation, leading to a 9.5% drop in stock.
Collection
[
|
...
]