AMD shares tumble 11% after Intel warns of PC slowdown
Advanced Micro Devices (AMD) fell about 11% on Oct. 30, trading around $505, as Intel disclosed a weak PC outlook and guided Q4 revenue to $15.0‑$16.0 billion. Intel also reported a 78% jump in its data‑center revenue, highlighting strong demand that contrasts with AMD’s exposure to the PC market. AMD’s own data‑center revenue doubled to $6.7 billion in Q2, now representing 58% of its sales, while its client (PC) revenue grew 23% to $3.1 billion. The move precedes AMD’s third‑quarter earnings report scheduled for Nov. 3.
Why it matters
The sharp price drop reduces AMD’s market value ahead of its earnings release, increasing short‑term volatility for traders. The event also underscores the sector‑wide impact of Intel’s PC slowdown on chip makers with PC exposure.
Key facts
- 1AMD shares fell 10.88% to $504.80 on Oct. 30, before its Nov. 3 earnings report. finance.yahoo.com
- 2Intel guided fourth‑quarter revenue to $15.0 billion‑$16.0 billion and its stock closed down 28.58%. finance.yahoo.com
- 3Intel’s data‑center revenue rose 78% to $7.3 billion. finance.yahoo.com
- 4AMD’s Q2 data‑center revenue more than doubled to $6.7 billion. finance.yahoo.com
- 5AMD’s Q2 client revenue was $3.1 billion, up 23% and representing about 27% of sales. tikr.com
- 6AMD’s data‑center share of revenue increased to 58% in Q2, up from 42% a year earlier. tikr.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.