AMD Among Few Tech Companies During Pandemic to Volunteer 2020 Guidance
Advance Micro Devices expects 25% revenue growth in 2020, plus or minus 5 points, “despite expectations of weaker COVID-19-related consumer demand," said Chief Financial Officer Devinder Kumar on a Q1 call Tuesday evening. It's one of the few tech companies…
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since the pandemic began not to suspend or withdraw 2020 guidance. CEO Lisa Su concedes “there’s a lot of questions about visibility as we go into the second half.” AMD has “a lot of positives in terms of market drivers” that give the company “good visibility,” she said. Console gaming is one such “positive,” she said. “There’s lots of anticipation around the consoles” launching in time for holiday, she said of the PlayStation 5 and Xbox Series X. “There’s no change in our view, as it relates to COVID-19.” The PC business “has actually held up pretty well,” said Su. The PC market got “some benefit from some of the acceleration in demand” toward the end of Q1 as lockdown orders became common in much of the world, she said. “We have seen that pick up as we’ve gone through the month of April.” There remains “accelerated notebook demand,” she said. Desktop PC volume will be “sequentially lower” in Q2, “just based on sort of the preference around notebook versus desktop in this framework,” she said.