AMD’s (NASDAQ: AMD) Q2 results were tepid, giving the market a reason to sell, at least for some participants. The results and subsequent sell-off also provide a reason to buy, having missed a high bar by a slim margin due to misplaced expectations and providing a discount to recently elevated prices.
The primary cause of Q2 weakness and the sell-off is the decline in margins and earnings. As expected, restrictions on semiconductor sales to China impacted the margin.
