Market Overview

Advanced Micro Devices Blasted After Q1 Sales Miss


Advanced Micro Devices, Inc. (NASDAQ: AMD) shares are trading lower by $2.41 (17 percent) at $11.21 in Tuesday's session.

Despite inline Q1 EPS, the stock is being throttled for its slight revenue miss of $4 million. At this time, the Street may be lamenting that an 18 percent revenue growth didn't instigate a substantial sales beat.

See Also: Analyst On Advanced Micro Devices: 'Margins Not Ryzen'

After a much lower open, AMD could only manage a $0.03 pop to $11.76 before continuing its move lower. So far, the ensuing decline taken the issue under $11.00 for the first time since February 1, when it bottomed at $10.81.

It should be noted that low represents the low for the day after the company posted a Q4 beat. The following day, the stock surged from its closing price of $10.37 to $12.06 and rarely looked back in its move to a 10-year high on February 28 at $15.55.

The ensuing decline has matched the low of the day following the report on February 1 at $10.81. So far, the rebound off that low has been capped at $11.32.

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