Advanced Micro Devices Stock Is Tumbling Today. Here's What You Need to Know
Shares of Advanced Micro Devices (NASDAQ: AMD) were heading lower today after the chipmaker posted disappointing results and guidance in its first-quarter earnings report. As of 2:44 p.m. ET, the stock was down 7.3% after falling as much as 10% earlier in the session.
AMD essentially matched estimates in its first-quarter earnings report. However, investors seemed to want a more bullish forecast on AI chips. Management said it expected to sell $4 billion worth of artificial intelligence (AI) chips this year, but that is still far short of AI leader Nvidia.
Source Fool.com