AMD shares are trading lower after the company issued Q3 guidance with a midpoint below estimates. The overall tech sector is also down after downgraded the long-term credit rating of the US.
Portfolio Pulse from Benzinga Newsdesk
AMD shares are trading lower after the company issued Q3 guidance below estimates. The overall tech sector is also down after a downgrade of the long-term credit rating of the US.
August 04, 2023 | 11:29 am
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AMD's stock is trading lower due to its Q3 guidance being below estimates. The downgrade of the US's long-term credit rating is also negatively impacting the tech sector, including AMD.
AMD's lower than expected Q3 guidance indicates potential underperformance, which can lead to a decrease in stock price. Additionally, the downgrade of the US's long-term credit rating can negatively impact the overall market, including the tech sector where AMD operates.
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