Renowned semiconductor company Advanced Micro Devices, Inc.’s (AMD) shares have declined 60% in price year-to-date and 44.9% over the past year to close the last trading session at $57.63. It is currently trading 65% below its 52-week high of $164.46, which it hit on November 30, 2021.
The PC demand slowdown has led AMD to lower its revenue guidance for the third quarter. The company now expects its revenue to be around $5.6 billion, down from the previously estimated $6.7 billion.
