Advanced Micro Devices Inc (AMD) has raised its annual revenue forecast earlier this week. This arrives as the company bets that its chips used in data centers and consumers’ PCs as the chief executive of the firm is also confident about the supply chain’s current situation.
According to a Reuters report, the chip designer’s shared had risen recently by about 4 percent in extended trading after it also recorded results that were better than expected for the first quarter of this year. Furthermore, AMD CEO Lisa Su has “good visibility” and that the company is confident to secure additional chips from its manufacturing partners. Su added that “The entire semiconductor supply chain is very, very tight. That being said, we’ve been working very closely with our supply chain partners. We have seen improvements that have led to the improved full year guide.”
For those unaware, Team Red has recently been stealing market share from Intel over processors, meanwhile, the company is also seeing a surge in demand for its graphcis cards as well for gamers. AMD now believes that their revenue will rise by 50 percent from a year prior. This means that the company could generate about 14.64 billion US Dollars, which marks a rise from the previously forecast that projected a 39 percent jump.
Lisa Su stated that “We feel very good about our progress, particularly in notebooks. We’re seeing traction in the premium ultra thin, gaming and commercial.” The brand is is expecting its computing and graphics business, which also includes graphics and central processing chips for personal computers rose by 46 percent to 2.10 billion US Dollars while its enterprise business that targets data centers chips posted a jump in sales as well, reaching 1.35 billion US Dollars.
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