Advanced Micro Devices, Inc. (NASDAQ:AMD) shares fell nearly 2% in premarket trading on Wednesday after the chipmaker disappointed investors with a lukewarm fourth-quarter outlook.
The Santa Clara, California-based chipmaker reported above-consensus third-quarter non-GAAP earnings per share and revenue, with the upside achieved on the back of strong PC and server processor sales.
The company’s fourth-quarter revenue guidance of $6.1 billion plus or minus $300 million trailed estimates of most analysts.
Reviewing the results, KeyBanc Capital Markets analyst John ...