Advanced Micro Devices Inc. shares tumbled nearly 7% in after-hours trading Tuesday, after the chip maker reported a big drop in margins and provided a forecast that doesn’t suggest immediate improvement.
AMD AMD reported a first-quarter net loss of $139 million and revenue fell to $5.3 billion, fueled by big declines in PC sales and gaming. After a big boom in sales during the COVID-19 pandemic, PC sales dropped in 2022 and sank 29% in the first quarter of 2023.
Those…
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