This is why Advanced Micro Devices (AMD) continues to fall after hours
- Shares fell for Advanced Micro Devices after the company admitted that the COVID-19 pandemic would trim its growth in 2020.
- The company reported first-quarter net income of $162 million, or 14 cents a share, compared with $16 million, or a penny a share, in the year-ago period.
- Shares have fallen more than 3% after hours.
- AMD reported a 73% increase from last year in computing and graphics chip sales to $1.44 billion, while analysts expected a 58% surge to $1.31 billion.
- Although he company continues to slide, they have a promising outlook for the rest of 2020 when it comes to its showcasing products. Their 7nm processors beat Intel and the company’s Radeon RX 5000-series graphics cards currently undercut Nvidia’s RTX 20-series graphics cards in cost
About Advanced Micro Devices
Advanced Micro Devices, Inc. engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services. The Enterprise, Embedded and Semi-Custom segment includes server and embedded processors, semi-custom System-on-Chip products, development services and technology for game consoles. The company was founded by W. J. Sanders III on May 1, 1969 and is headquartered in Santa Clara, CA.