AMD Beats Q3 Earnings But Gives Weak Q4 Outlook Despite Strong AI Chip Prospects

AMD beat Q3 earnings and revenue views but forecast soft Q4 sales below expectations.

However, AMD predicted over $2 billion in 2024 sales of new AI chips, topping estimates.

AMD's next-gen MI300 AI chip seen as alternative to Nvidia's offerings.

AMD credited strong PC and server CPU sales for Q3 beat amid downturn.

But analysts cut AMD price targets on disappointing Q4 revenue outlook.