Advanced Micro Devices' (NASDAQ: AMD) red-hot year-long stock market rally came to a screeching halt after the company released mixed Q4 2023 results on Jan. 30. Wall Street wasn't impressed with AMD's guidance for the current quarter, which explains why the share prices retreated.
Let's look at the reasons why investors pressed the panic button following AMD's latest report.
AMD's Q4 revenue increased 10% year over year to $6.17 billion, exceeding the consensus estimate of $6.13 billion. The company's adjusted earnings also jumped 12% from the year-ago period to $0.77 per share, matching analysts' expectations.
Source Fool.com