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AMD shares drop 7.4% premarket…revenue outlook falls short of expectations

Reuters ·

AMD Advanced Micro Devices Inc
$526.33 +8.60%
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  1. 1Advanced Micro Devices (AMD) shares traded at $480.28, down 7.4% in premarket trading on Wednesday
  2. 2About $61.1 billion in market cap is set to evaporate, while its Q3 revenue outlook of roughly $13 billion exceeded the estimate of $12.52 billion
  3. 3The outlook beat estimates but fell short of lofty expectations, as investors wanted a faster sign of growth transition amid the AI spending boom

This 3-line summary is compiled from the report below.

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