There is no question that technology companies in particular experienced unprecedented demand during the peak of the coronavirus pandemic. However, a mixture of overhiring and tighter corporate budgets resulted in immense cost-cutting efforts and cloudy financial guidance from management teams.

Underneath the broader technology umbrella lies the semiconductor landscape, which has experienced its fair share of challenges over the last couple of years. From supply chain disruptions to waning consumer demand, the goods and services produced by chip companies certainly face an uphill battle.

Advanced Micro Devices (NASDAQ: AMD) recently reported earnings for Q1 2023. Despite declining revenue and deteriorating margins, the stock has been moving higher since the earnings report in early May. Let's dig into Q1 and determine if AMD deserves a spot in your portfolio. 

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Source Fool.com