The chip company AMD missed market expectations with its forecast for business in the current quarter.
The Intel competitor announced revenues of around $5.4 billion, while analysts on average had expected $5.77 billion. AMD shares, which had recently risen sharply, temporarily lost 4.51 percent to $164.30 in NASDAQ trading on Wednesday.
In the last quarter, AMD sales rose ten percent year-on-year to $6.17 billion. The bottom line was that profits jumped from $21 million to $667 million.
In recent years, AMD has taken market share from Intel in the processor business for PCs and especially data centers. The company is currently trying to get involved in chips for artificial intelligence applications. However, technology from competitor NVIDIA continues to dominate here.
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