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AMD Gives Strong Current-Quarter Forecast

Advanced Micro Devices has added to talk that the global chip shortage is behind us, predicting current-quarter sales of roughly A$9.16 billion.

The strong forecast blows previous Wall Street estimates of A$8.5 billion out of the water, and saw AMD’s shares leap by 8.3 per cent in late trading.

The company’s March quarter sales of A$8.31 billion also topped projections of A$7.47 billion, leading to bullish predictions about 2022 earnings.

AMD has forecast annual revenue of A$37.07 billion for 2022, a 60 per cent leap from 2021.

“Each of our businesses grew by a significant double-digit percentage year-over-year,” AMD Chief Executive Officer Lisa Su said in a statement, referring to the company’s recent Xilinx acquisition.

This comes a week after Qualcomm, the world’s largest maker of smartphone semiconductors, predicted it will post current quarter revenue of A$14.7-$15.9 billion, smashing Wall Street estimations of A$14 billion.

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