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Oppenheimer On AMD Following Earnings: PC's 'Turning The Corner, But Challenges Remain'

  • The share price of Advanced Micro Devices, Inc. (NASDAQ: AMD) have declined 27.04 percent in the last six months, from a high of $2.87 on April 16.
  • Oppenheimer’s Rick Schafer has maintained an Underperform rating on the company.
  • The company reported its Q3 sales modestly above the consensus expectations, although the loss per share was worse than expected.

Analyst Rick Schafer also mentioned that the management guidance to a decline in the Q4 sales by 10 percent quarter-on-quarter to $90 million, below the consensus forecast of $1 billion, “as seasonal declines in semi-custom are partially offset by modest growth in Computing/Graphics.”

On a positive note, the company has entered...