AMD Misses Sales Estimates By a Mile -- Time to Sell the Stock?
AMD (NASDAQ: AMD) is the latest semiconductor company to report trouble with the PC (personal computer) market. After more than two years of pandemic-fueled spending on work-from-home equipment, the consumer is getting tapped out on desktop and laptop computers. AMD said it will miss its sales guidance for the third quarter of 2022 in dramatic fashion as a result.
Shares of AMD are in retreat on the news, but not all is hopeless. Think twice before you sell AMD stock now.
AMD said that its Q3 2022 revenue will be about $5.6 billion, a 29% year-over-year increase but a 15% decrease compared to Q2. Management had previously forecasted $6.7 billion in sales for Q3 back in August.
Source Fool.com
