AMD forecasts about $17 billion quarter; chip stocks lift Nasdaq
AMD reported record third-quarter revenue of $13.4 billion, up 45% from a year earlier, with record data center sales of $8.5 billion, and forecast about $17 billion in fourth-quarter revenue, above analysts' consensus of $16.23 billion. Its shares rose after hours. Earlier, chip stocks rebounded: the Nasdaq rose 0.83% and the S&P 500 0.36%, while the Dow fell 0.38%.
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Why it matters
AMD is one of the biggest chip makers, and chip stocks helped lift the Nasdaq and the S&P 500 on Tuesday, which affects many retirement and index funds. AMD said its data center business, which includes AI chips, nearly doubled from a year earlier.
Sources
- AMD (GlobeNewswire): AMD Reports Third Quarter 2026 Financial Results
- Investing.com: AMD stock jumps after hours as results, guidance beat estimates
- Yahoo Finance: Stock market today, Nov. 3
- TheStreet: Stock Market Today (Nov. 3, 2026)
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