AMD's first-quarter forecast fell short of what some analysts were hoping for amid an AI spending boom.
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Advanced Micro Devices
reported fourth-quarter earnings that topped expectations, but the company’s first-quarter forecast fell short of what some analysts were expecting amid an AI spending boom.
The stock fell Tuesday more than 6% in extended trading.
Here’s how the chipmaker did versus LSEG consensus estimates for the quarter ended in December:
The chipmaker's stock has surged over the past year amid the AI boom
AMD, which is second in the market for AI graphics processing units, is grappling with chip export controls.
The chipmaker fell short of earnings expectations and raised concerns about the timing of a restart in China shipments.
The chipmaker is working on a major deal with OpenAI
Shares of AMD fell after the chipmaker reported adjusted earnings of 48 cents per share.
Shares of AMD rose nearly 10% on Monday after analysts at Piper Sandler raised their price target.
