AMD sees better half of 2023, but second-quarter forecast misses estimates
:Shares of Advanced Micro Devices fell on Tuesday after a second-quarter forecast missed Wall Street expectations, overshadowing optimism from company executives that the battered chip market will start to recover in the second half of 2023.
"AMD results were more vulnerable than Intel's because most AMD-based PC customers were consumers. In contrast, Intel had a significant share in the business PC segment," said Mikako Kitagawa, analyst at research firm Gartner."The results reflect a weaker consumer PC segment than the business PC segment."
But in the meantime, the company is still grappling with a depressed PC market. Dean McCarron, head of chip market tracking firm Mercury Research, said both AMD and Intel are selling fewer chips to PC makers, hoping those customers will burn off a glut of chips on their shelves.
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