Su shed light on AMD’s outlook in an interview with Bloomberg after the chipmaker’s second-quarter (Q2) earnings earlier on Wednesday.
Advanced Micro Devices Inc. (AMD) CEO Lisa Su on Wednesday said she is seeing a “lot of positive signals” about what the market needs in terms of computing.
Su shed light on AMD’s outlook in an interview with Bloomberg after the chipmaker’s second-quarter (Q2) earnings earlier on Wednesday.
AMD stock was trading 7% lower at the time of writing. However, retail sentiment on Stocktwits around the company was in the ‘extremely bullish’ territory. AMD was among the top trending tickers on the platform during midday trade.
Su tried to assuage investors spooked after the company’s Q2 results, with concerns around demand and the resumption of exports to the Chinese market.
The AMD CEO said investors should focus on the underlying strength in the markets that the company is present in, according to the report.
As for the progress on China, Su said investors should not be distracted by the near-term complications while AMD tries to navigate the restrictions imposed by the U.S. government on exports to China.
“We have a number of licenses under review, and we’ve been given good indications those are moving through the process,” Su said, according to the report.
The stock dropped on Wednesday despite AMD reporting better-than-expected results in Q2, with earnings per share (EPS) of $0.48, in line with expectations, and the $7.68 billion in revenue surpassing estimates of $7.4 billion, according to Stocktwits data.
“We are seeing robust demand across our computing and AI product portfolio and are well-positioned to deliver significant growth in the second half of the year,” Su said in a statement.
Su expects AMD to benefit from the launch of the MI350 series graphics processing units (GPU), which are designed with AI and data centers in mind.
AMD stock is up 34% year-to-date and 24% in the last 12 months.
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