(Bloomberg) — Advanced Micro Devices Inc. gave strong forecasts, suggesting the company is winning orders from larger rival Intel Corp. in the lucrative market for server chips. AMD shares jumped more than 9% in extended trading.Third-quarter revenue will be about $2.55 billion, Santa Clara, California-based AMD said Tuesday in a statement. That compares with the average analyst estimate of $2.3 billion, according to data compiled by Bloomberg.The company also raised its full-year sales forecast, and second-quarter results beat Wall Street expectations on sales of Epyc server chips and Ryzen PC processors.After decades of lagging way behind Intel, AMD has been …read more
Source:: Yahoo Finance
