AMD shares sink on forecast miss with chip market weak
By
Biju Kumar
Shares of Advanced Micro Devices fell on Tuesday after a second-quarter forecast missed Wall Street expectations, overshadowing optimism from company executives that the battered chip market will start to recover in the second half of 2023.
AMD shares fell 7% in extended trading after the company announced first-quarter sales that missed analyst estimates for PC and data center chips, its two largest segments.