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How Will AMD's AI Business Fare In Q1? [Forbes]
Last apple inc. earnings: 4/30 04:30 pm
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US:NASDAQ Investor Relations: investor.apple.com
(NASDAQ : AMD) is expected to publish its Q1 FY'24 results toward the end of April, reporting on a quarter that is likely to see the company benefit from an improving PC market and higher demand for artificial intelligence chips. AMD has guided adjusted revenues of between $5.1 billion to $5.7 billion for the quarter, which could translate into a growth of as much as 7% compared to last year. The company has guided gross margins of 52% for the year, marking a 200 basis point increase compared to last year. AMD's performance over the early part of 2023 was mixed, with the PC industry undergoing a slump, as the tailwinds such as remote working and learning seen through Covid-19 eased. However, things are likely to pick up a bit in 2024. Over Q1 2024, total PC shipments rose 3.2% year-over-year to 57.2 million units, per Canalys. AMD's growth could be a bit better, as PC vendors worked through chip inventory that they built through the pandemic over the first few quarters of 2023. Thi
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