Advanced Micro Devices Inc. (NASDAQ:AMD) shares moved sharply to the downside in after-hours trading on Thursday after the chipmaker warned of a revenue shortfall.
What Happened: AMD's predicament isn’t likely to be a one-off event. South Korean electronics and chip manufacturer Samsung, on Friday, pre-announced that its third-quarter operating profit will likely come in at 10.8 trillion won ($7.6 billion), down about 32% year-over-year, and 23.4% lower than in the previous quarter. If the estimates are confirmed when the chip major reports its final quarterly results, it would mark its first sequential decline in three years.
