Advanced Micro Devices (NASDAQ: AMD) reported third-quarter earnings results after the market closed Tuesday, delivering top- and bottom-line performance that fell short of expectations. The semiconductor company also issued guidance that fell short of the average analyst target, but there were some bright spots in some key business segments -- and the stock moved higher in after-hours trading.

While AMD is facing relatively weak demand for PC central processing units (CPUs), the market appears to be bullish on guidance for sequential sales growth in the fourth quarter for the company's data center and embedded business segments. Is the stock a buy on the heels of the recently released third-quarter results and outlook?

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Source Fool.com