Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading lower by 2.52% to $110.15 Wednesday afternoon. Shares of semiconductor and chip stocks are trading lower in sympathy with Texas Instruments Inc (NASDAQ:TXN), which fell after issuing third-quarter EPS guidance with a midpoint below estimates. The company also said it experienced weakness across end markets.
AMD shares are also trading lower amid overall market volatility ahead of Wednesday afternoon’s Fed decision.
What Happened With Texas Instruments?
Texas Instruments reported quarterly earnings of $1.87 per share, showing a 23.67% decrease compared to the same period last year. However, they exceeded expectations with quarterly sales of $4.53 billion, beating the analyst consensus estimate of $4.37 billion.
Looking ahead, for the third quarter, Texas Instruments expects revenue between $4.36 billion and $4.74 billion, versus the analyst consensus estimate of $4.60 billion…Read More
According to data from Benzinga Pro, AMD has a 52-week high of $132.83 and a 52-week low of $54.57.
