AMD shares are trading lower following in-line Q2 revenue guidance. Gaming and Embedded segment revenues also declined year over year.
Portfolio Pulse from Benzinga Newsdesk
AMD shares are trading lower due to in-line Q2 revenue guidance and a year-over-year decline in Gaming and Embedded segment revenues.
May 01, 2024 | 10:08 am
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NEGATIVE IMPACT
AMD's stock price is experiencing a downturn following the announcement of Q2 revenue guidance that met expectations but did not exceed them, coupled with a decline in revenues from its Gaming and Embedded segments compared to the previous year.
The stock price decline is directly attributed to the company's financial guidance for Q2, which only met analysts' expectations without exceeding them, indicating a potential stagnation or slowdown in growth. Additionally, the year-over-year decline in revenues from the Gaming and Embedded segments suggests a weakening in these previously strong revenue streams for AMD, further contributing to negative investor sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100