AMD craters are up more than 20% after hours with weak graphics

Shares of Advanced Micro Devices Inc. fell on Wednesday during the broad session after the chip maker's outlook was lower than Wall Street's forecast due to weaker-than-expected chart sales.

AMD

AMD -9.17%

fell 24% after regular working hours, following a 9.2% drop to close the regular session at $ 22.79.

Revenues reached $ 1.65 billion, up from $ 1.58 billion a year ago. Wall Street expects a turnover of 1.7 billion USD from AMD, which had forecast a turnover of 1.65 billion USD to 1.75 billion USD for the third quarter . Estimize, a software platform leveraging crowdsourcing of hedge fund executives, brokerage firms, buyer-side analysts and others, predicts a business figure of $ 1.75 billion.

"Sales of client and server processors have increased significantly, although sales of graphics channels have declined in the quarter," said Lisa Su, AMD's executive director, in a statement.

AMD reported computer and graphics sales of $ 938 million for the third quarter, while analysts expected $ 1.05 billion. The company announced a $ 715 million, integrated and semi-customized business, compared with $ 653 million for analysts.

For the fourth quarter, AMD estimates revenues at $ 1.4 billion, while analysts expect $ 1.6 billion.

The company reported third-quarter net income of $ 102 million, or 9 cents per share, compared with $ 61 million, or 6 cents a share, in the same quarter of the previous year. Adjusted earnings was 13 cents per share.

According to analysts surveyed by FactSet, AMD should post an adjusted profit of 12 cents per share. Estimize had claimed a profit of 15 cents per share.

Of the 34 analysts who cover AMD, 13 have buy or overweight ratings, 16 have holding ratings and five have sales or underweight ratings, with an average price target of $ 25.62. , according to FactSet.

AMD's shares have experienced a period of high volatility after its latest report published its best results in seven years in its previous report, peaking at $ 34.14 in mid-September, culminating at 12 years. % surge, and were 33% off this peak at closing Wednesday.

Adding to fears of a trade war in China and an overabundance of supply, the actions of the chip makers have recently led to mass selling, while other manufacturers have also planned for prospects lower than expected.

At Wednesday's close, AMD's stock remains the best performance since the start of the year on the S & P 500, with a gain of 122%. It is the second most traded stock of the index over the last 52 weeks. In comparison, the S & P 500

SPX, -3.09%

down 0.7% for the year, the Nasdaq Composite Index, very technology-driven

COMP -4.43%

is up 3%, and the PHLX Semiconductor index

SOX, -6.61%

is down 8.5%.

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