Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading lower by 3.2% at $113.92 Thursday morning in sympathy with NVIDIA Corporation (NASDAQ:NVDA) after the company reported fourth-quarter earnings results.
Even with shares falling Thursday, Nvidia told shareholders during Wednesday's after-hours session that Gaming, Data Center and Professional Visualization market platforms each achieved record revenue for the quarter and year. Like Nvidia, AMD designs microprocessors for the computer and consumer electronics industries. AMD also supplies the chips found in prominent game consoles such as the Sony PlayStation and Microsoft Xbox.
Nvidia reported quarterly earnings of $1.32 per share which beat the analyst consensus estimate of $1.22. The company reported quarterly sales of $7.64 billion which beat the analyst consensus estimate of $7.42 billion by 3%. This is a 53% increase over sales of $5.00 billion the same period last year.
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Shares of technology and software companies are also trading lower amid overall market weakness. Stocks across sectors have sold off in recent sessions amid Russia-Ukraine tensions.
AMD has a 52-week high of $164.46 and a 52-week low of $72.50.
