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Stock impact report

AMD's Stock Takes a Hit Despite Solid Earnings. What Happened? [Yahoo! Finance]

Advanced Micro Devices, Inc. (AMD) 
Last advanced micro devices, inc. earnings: 4/28 04:25 pm Check Earnings Report
US:NYSE Investor Relations: ir.amd.com/investor-overview
Company Research Source: Yahoo! Finance
Analysts said a surprise sales boost from China that may have smoothed over softer growth in other areas and high investor expectations heading into the report likely weighed on the stock. Advanced Micro Devices ( AMD ) investors are becoming harder to impress. Shares of the chipmaker sank over 13% in early trading Wednesday, despite fourth-quarter results that topped Wall Street's estimates. Record revenue of $10.27 billion and adjusted earnings per share of $1.53 each came in better than expected. However, a surprise boost from sales of AMD's MI308 chip to customers in China may have raised concerns about "more muted growth" across the rest of the company's AI sales, Wedbush analysts said following the results. The analysts also warned AMD could still face a number of challenges to securing more sales in China amid shifting export restrictions of advanced chips Results from AI-related companies have been under the microscope this earnings season amid concerns about spending Show less Read more
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