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AMD earnings send the stock sharply lower. Here’s what to know.
- Investing Investment Opportunities Markets
Ramit Sethi- 2 minutes read
Advanced Micro Devices’ stock was down 8.9% following its June-quarter earnings call despite upbeat commentary on demand for both its server chips and AI offerings.
One analyst attributed the declines to the stock’s strong run leading into the report. Against that backdrop, perhaps “‘good’ wasn’t good enough,” according to David Wagner, portfolio manager at Aptus Capital Advisors. AMD shares had gained 21% over the five-day period heading into earnings.
Investors didn’t simply need confirmation that AMD’s business is growing, Wagner told MarketWatch in emailed comments. Instead, they wanted proof that it’s going faster than expected. He added that AMD’s guidance for gross margins to stay at 56% was likely underwhelming to investors.
