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Barchart
Barchart
Amit Singh

AMD Stock Cools Off. Is It Time to Buy the Pullback?

AMD

Shares of Advanced Micro Devices (AMD) have cooled off a bit after a strong run earlier this year. The market has grown cautious, weighing concerns about valuation alongside the impact of U.S. export restrictions to China. The latest earnings added to the pain, as AMD reported a year-over-year decline in artificial intelligence (AI) revenue in the data center business during the second quarter.

Much of the weakness in AI revenue was due to the U.S. export ban, which cut into sales of the company’s MI308 accelerators in China. On top of that, the launch of AMD’s next-generation MI350 series created a temporary pause in demand, as customers chose to wait for the more advanced chips.

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