AMD shares down 30% from all-time highs after first-quarter update; CEO Lisa Su revised AI chip sales outlook from $2bn to $3.5bn.
AMD shares are down 30% from their all-time highs following the first-quarter update. Management's optimistic AI chip sales outlook earlier in the year caused the stock to soar, but reality has since settled in. CEO Lisa Su initially expected $2bn in accelerated computing sales, later raising the outlook to $3.5bn. With clear reasons for both optimism and skepticism, the question remains whether it's time to buy the stock dip.
May 18, 2024
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