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Advanced Micro Devices Inc.’s upbeat revenue outlook wasn’t enough to send the stock higher in Tuesday’s extended session — suggesting the explosive rally over the past few months might have been overextended, especially as management declined to bake China sales into their forecasts.
Pointing to the ramp of its new artificial-intelligence chips and growing share of the market for personal-computer processors, the chipmaker
AMD set revenue guidance for the third quarter at $8.7 billion, plus or minus $300 million. That came in above the $8.3 billion that analysts tracked by FactSet had been expecting.
This post was originally published on Market Watch
