Amd stock

2024 - 1 - 31

AMD Stock Under Pressure Due to Disappointing Sales Forecast and AI Chip Performance

AMD stock faces a downturn as the company misses sales forecasts and AI chip expectations, leading to investor concern.

Advanced Micro Devices (AMD) stock is experiencing a decline following disappointing sales forecasts and underwhelming performance of its AI chip, the MI300X. The chipmaker missed Wall Street's first-quarter sales expectations, causing a sharp fall in AMD shares. Investors were unimpressed with the company's outlook as it failed to meet projections for the first quarter of 2024. This resulted in Raymond James analysts downgrading AMD stock.

Additionally, AMD's weak revenue forecast overshadowed the potential of its AI chips, leading to a 6% drop in stock value. The company's struggles were highlighted by Bernstein analysts, who viewed AMD as expensive among AI semi stocks and predicted a further downturn if estimates decline. High-flying semiconductor stocks also took a hit as a result of AMD's lackluster revenue outlook.

Despite the challenges, Advanced Micro Devices remains optimistic about its AI business, with expectations set for positive sales figures by the end of 2024. The company's CEO reassured investors by promising to extract more sales from AI products, alleviating some concerns and helping the stock recover from its initial decline.

In conclusion, AMD faces pressure in the stock market due to its failure to meet sales forecasts and the disappointing performance of its AI chip. However, the company remains hopeful for the future of its AI business and aims to navigate through the challenges to regain investor confidence.

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AMD Stock Price Plummets After Artificial Intelligence (AI) Chip ... (Motley Fool)

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Why Is Advanced Micro Devices (AMD) Stock Down Today? (Investorplace.com)

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AMD comes up short on 'impossible task,' sending its stock lower (Morningstar.com)

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AMD's Stock Falls 6% On Weak Guidance (Baystreet.ca)

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AMD's weak forecast overshadows prospects for AI chips (Digitimes)

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Why AMD Stock Fell as Much as 5.5% This Morning (Motley Fool)

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AMD comes up short on 'impossible task,' sending its stock lower (MarketWatch)

A Bernstein analyst already saw AMD as 'the most expensive of the AI semi stocks,' and he thinks that could intensify if estimates come down ...

AMD earnings could make its pricey stock even more expensive, this ... (Morningstar.com)

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AMD: The 2024 AI Outlook Is Very Positive (Seeking Alpha)

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AMD Pares Stock Decline as CEO Vows to Wring More Sales From AI (Yahoo Finance)

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