AMD's AI Chip Sales Expected to Soar Despite Q4 Guidance Miss
TL;DR
AMD reported better-than-expected Q3 earnings, with $5.8 billion in revenue and $0.70 in EPS. However, the company missed Q4 revenue guidance, forecasting $6.1 billion instead of the expected $6.4 billion. AMD is playing catch-up with Nvidia in the AI chip market but believes the field is still open for competition. The company's newest data center chip, the MI300, could help narrow the gap. Wall Street analysts have a positive outlook on AMD's long-term growth potential.
- AMD beats earnings estimates, misses Q4 guidance Yahoo Finance
- AMD gives soft fourth-quarter guidance, but expects to sell $2 billion of AI chips next year CNBC
- AMD hyper-focused on AI outlook ahead of Q3 earnings Yahoo Finance
- AMD's revenue outlook comes in light, but company gives a rosy AI forecast MarketWatch
- AMD’s Shares Whipsaw After Q3 2023 Earnings As PC Stability Competes With Guidance Miss Wccftech
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