AMD’s stock falls despite strong earnings outlook. Is China the reason?

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Earnings Results

The chipmaker sets September-quarter guidance above Wall Street’s expectations but doesn’t factor in a restart of China sales

Published: Aug. 5, 2025 at 5:11 p.m. ET

Advanced Micro Devices Inc.’s upbeat revenue outlook wasn’t enough to send the stock higher in Tuesday’s extended session — suggesting the explosive rally over the past few months might have been overextended, especially as management declined to bake China sales into their forecasts.

Pointing to the ramp of its new artificial-intelligence chips and growing share of the market for personal-computer processors, the chipmaker AMD set revenue guidance for the third quarter at $8.7 billion, plus or minus $300 million. That came in above the $8.3 billion that analysts tracked by FactSet had been expecting.

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