Advanced Micro Devices’ Chief Executive Lisa Su said that strategies aimed at the data center and embedded systems markets should help the chipmaker or more weakness to come from the PC sector this year. The Data Center business is AMD's largest source of revenue. Su said that AMD is "in a good position to gain share" in the embedded data center market.
She said we were expected to have "elevated levels of inventory" in the first half of the year that should improve after summer and toward the end of 2023.
Su said, "Our largest growth driver is the data center. We're positive on what we can do [in the data center] and will watch the macro [economic environment] on client and gaming."
For AMD its client segment includes PC sales, which in the fourth quarter fell 51% from a year ago, to $903M. The company's gaming segment sales of $1.6B were down by 7% from the fourth quarter of 2022.
Overall, AMD (AMD) reported a fourth-quarter profit of 69 cents as a share, excluding one-time items, on revenue of $5.6B in sales. The company also forecast fiscal first-quarter revenue in a range of $5B to $5.6B.
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