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Why AMD Stock Fell Before Recovering Earlier Today

John Ballard, The Motley Fool
·2-min read
Why AMD Stock Fell Before Recovering Earlier Today

Shares of Advanced Micro Devices (NASDAQ: AMD) were down over 4% this morning before rallying. Wells Fargo analyst Aaron Rakers cut his growth estimates for the next three years, citing weakening demand in the PC market that might spill over to the data center market, a key driver of growth for the chipmaker. In AMD's last earnings call in early August, CEO Lisa Su mentioned that the company's next-generation 5-nanometer Genoa server central processing unit (CPU) was experiencing very strong customer pull.

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