AMD stock is hitting 52-week lows as it reports disappointing
preliminary revenue results. Here's when to buy the chipmaker's
shares. Advanced Micro Devices (AMD) finally slipped up, just
as Nvidia (NVDA) did a few months ago. Shares of the veteran
chipmaker are down 8% on Friday, but not because they're
following the broader market lower on a stronger-than-expected
jobs report. Aside from the implications that the data could have
for the Federal Reserve and interest-rate increases, AMD is down
for company-specific issues. On Thursday after the close AMD
reported its preliminary third-quarter revenue of $5.6 billion vs.
estimates of $6.71 billion and a prior guide of roughly $6.7 billion.
Chief Executive Lisa Su said that “the PC market weakened
significantly in the quarter,” but for semiconductor investors, that’s not too surprising.