Advanced Micro Devices Inc. Chief Executive Lisa Su laid out the chip maker’s plans and expectations for the coming years at an event Tuesday afternoon, and shares endured an after-hours roller-coaster ride. At AMD’s Financial Analyst Day presentation, Su showed off AMD’s coming “Epyc” CPU offering and Radeon GPU product for data-center servers. These new offerings, which will compete with Intel Corp. and Nvidia Corp. products for data-center servers, are expected to launch in the current quarter. Su said AMD expects revenue to grow by double-digit percentages on an annual basis over the next few years, and said AMD is targeting gross margins of 40%-44% and annual adjusted earnings of greater than 75 cents a share long-term. AMD reported non-GAAP gross margin of 31% in the 2016 fiscal year, with a non-GAAP loss of 14 cents a share. AMD shares, which jumped 11.7% to $12.75 in the regular session, added another 3% in after-hours trading to top $13, but soon headed back down to a late loss after Bloomberg News reported that AMD declined comment on an Intel licensing deal that investors have expected for months. A report Tuesday claimed the GPU licensing deal, which previously belonged to Nvidia in a contract that ended in March, was official.
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