Should You Dump AMD Stock This Earnings Season?
It has been a tough year for Advanced Micro Devices (NASDAQ: AMD) investors so far. Shares of the chipmaker have dropped 43%, and the stock could face more downside pressure when it releases its second-quarter results on Aug. 2, 2022.
AMD relies on sales of central processing units (CPUs) and graphics cards used in personal computers (PCs) and notebooks for a large chunk of its revenue. The bad news for AMD: Sales of those devices reportedly plunged in the second quarter. Let's see how this headwind could affect AMD's upcoming results.
Market research firm IDC says that global PC sales fell 15.3% year over year in the second quarter of 2022 to 71.3 million units. Stagnating consumer demand and saturation in the education sector are the reasons behind this steep fall following two years of impressive growth that were fueled by the pandemic.
Source Fool.com
