AMD Forecasts Robust AI Chip Growth But Q1 Outlook Falls Short of Expectations
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AMD raised its 2024 revenue forecast for AI chips to over $3.5 billion, up from over $2 billion previously, but stock fell as expectations were even higher.
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AMD's Q1 revenue outlook of $5.4 billion midpoint missed expectations of $5.7 billion.
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Data center revenue expected to be flat sequentially as server decline offsets AI chip ramp.
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AMD reported Q4 adjusted EPS of 77 cents on revenue of $6.2 billion, beating expectations.
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AMD sees declines in client, embedded, and gaming segments in Q1 but data center AI chip growth continues.