AMD stock is leading the semiconductor sector lower on Wednesday following weak earnings from Advanced Micro Devices Inc. (NASDAQ:AMD).
Computer processors maker Advanced Micro Devices has provided third-quarter sales projections short of the Wall Street estimates, citing lower than expected demand for game console chips from Sony Corp (NYSE:SNE) and Microsoft Corporation (NASDAQ:MSFT), which are its main customers.
Weak Outlook for Q3On Tuesday in a statement, the California-based company indicated that its revenue for the current quarter will be around $1.8 billion, falling short of analyst estimates of $1.94 billion. According to Rosenblatt ...
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