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AMD stock extends losses as chip sales decline

Yahoo Finance

Yahoo Finance Live’s Akiko Fujita discusses the decline in stock for AMD following first-quarter earnings.

Video transcript

- Well, a weak outlook is continuing to weigh on shares of AMD. That stock is down 8% there, extending its losses from Tuesday. The chip maker reported an earnings and revenue beat but issued weaker-than-expected sales forecasts. The company now expects revenue of $5.3 billion per, partly by declining demand for PCs. Chip sales in that group fell 65% year on year in the most recent quarter. CEO Lisa Su saying she expects gradual improvements in the second half of the year after hitting what she describes as the bottom in Q1.