A smartphone with a displayed AMD logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
(Reuters) -High-flying semiconductor stocks slipped on Wednesday after Advanced Micro Devices' disappointing current-quarter revenue forecast added to investor worries over sluggish demand for non-AI chips.
AMD targets revenue of $5.4 billion, plus or minus $300 million for the first quarter, below analysts' estimate of $5.73 billion, according to LSEG data. That overshadowed the company near doubling its AI processor projections to $3.5 billion for 2024.
