AMD Beats Q3 Earnings But Gives Weak Q4 Outlook Despite Strong AI Chip Prospects
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AMD beat Q3 earnings and revenue views but forecast soft Q4 sales below expectations.
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However, AMD predicted over $2 billion in 2024 sales of new AI chips, topping estimates.
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AMD's next-gen MI300 AI chip seen as alternative to Nvidia's offerings.
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AMD credited strong PC and server CPU sales for Q3 beat amid downturn.
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But analysts cut AMD price targets on disappointing Q4 revenue outlook.
