• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Thursday, May 8
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»AMD shares fall as analysts worry AI chip targets may be ambitious
Finance

AMD shares fall as analysts worry AI chip targets may be ambitious

August 2, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
AMD shares fall as analysts worry AI chip targets may be ambitious
Share
Facebook Twitter LinkedIn Pinterest Email

(Reuters) – Advanced Micro Devices’s shares fell about 6% on Wednesday as analysts raised concerns that the chip designer’s targets for an artificial intelligence (AI) ramp-up may be too ambitious.

The fall came amid a broader sell-off in the tech sector that saw megacap stocks fall 1.5% to 5% and the Philadelphia SE Semiconductor Index drop 3.5%. Wall Street fell on Wednesday after rating agency Fitch downgraded the U.S. government’s credit rating.

AMD’s stock had risen 4% in extended trading on Tuesday after the company said customer interest was “very high” for its upcoming MI300 AI chip, which will ramp up in the fourth quarter.

AI has been a key theme in the chip sector so far this year, driving shares of chip companies and helping Nvidia become the first and only semiconductor firm to be valued at more than a trillion dollars.

Investors hope AMD will emerge with a challenger chip to Nvidia’s most powerful AI semiconductors and help in fulfilling strong demand for chips that can power applications like chatbot ChatGPT.

AMD’s shares have risen about 82% so far this year, compared with Nvidia’s stock that has more than tripled in value. The Philadelphia SE Semiconductor Index has gained about 52%.

AMD’s forward price-to-earnings multiple, a common benchmark for valuing stocks, stands at 31.40.

“Unless numbers get really material, soon, we fear estimates remain too high and the stock (AMD) looks a little stretched to us,” Bernstein analysts wrote in a note.

Summit Insights Group analyst Kinngai Chan said investors were giving AMD a pass hoping for a bigger AI payday.

See also  Biden Admin Unveils New Chip Controls Focused On China

The company forecast third-quarter revenue of about $5.7 billion, plus or minus $300 million. Analysts polled by Refinitiv on average expect revenue of $5.82 billion.

“The Bulls want AMD to be the next concept stock… the Bears say show me the results and make me believe the AI hype.”

(Reporting by Akash Sriram and Chavi Mehta in Bengaluru; Editing by Devika Syamnath)

ambitious AMD Analysts Chip fall shares Targets Worry
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

April 17, 2025

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

April 17, 2025

Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

April 17, 2025

How China’s Companies Are Responding to the US Trade War

April 16, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

U.S. trade chief flags concerns over India’s license mandate for laptop, tablet imports

August 27, 2023

General Motors Strikes Deal To Offload Battery Plant Stake To LG

December 3, 2024

Stolen Treasures Scandal Brings Down Director of British Museum

August 28, 2023

Warren Buffett Praises Tesla CEO, But These EV Companies — Including One In His Portfolio — Are Still In The Game

May 15, 2023
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Mueren 98 Migrantes en Región Fronteriza de Coahuila y Texas En Lo Que Va Del Año

August 24, 2023

EXCLUSIVE: Isabel Guzman Was Scheduled To Attend 17 ‘Equity’ Meetings In Less Than One Year

March 15, 2024

Could Australia’s Economy Survive Trump’s Position on China?

October 23, 2024
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.