AMD suffers worst rout since 2018 on disappointing forecast

By Ian King, Bloomberg

Advanced Micro Devices Inc. suffered its worst stock decline in more than seven years after the chipmaker’s sales forecast underwhelmed investors, a sign it’s not making the AI inroads that Wall Street anticipated.

First-quarter sales will be roughly $9.8 billion, plus or minus $300 million, the company said in a statement Tuesday. Analysts had estimated $9.39 billion on average, but some projections topped $10 billion, according to data compiled by Bloomberg.