BUZZ-AMD shares hit 15-month low after AI chip revenue disappoints

Reuters

02-05

BUZZ-AMD shares hit 15-month low after AI chip revenue disappoints

** Shares of AMD AMD.O down 10.4% at $107.07, steepest decliner on the Nasdaq 100 index .NDX

** Stock hits lowest since Nov. 2023 as its Q4 data center revenue, a proxy for its AI revenue, misses analyst estimates

** Co declines to give a forecast for its AI chips

** Overall, the share gains in the core business are not enough to offset the AI miss and we lower our PT to $135 from $190 - Jefferies analyst Blayne Curtis

** Stock down 11% YTD vs 2.5% gain for S&P 500 .SPX

(Reporting by Medha Singh)

((medha.singh@thomsonreuters.com))

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