Nov 1 (Reuters) - Advanced Micro Devices Inc on Tuesday forecast some strength in its data center business and promised to be careful with spending, sending shares up despite business being hit by a deepening PC market slump.
That said, I was a bit surprised to see that the Nest Wifi Pro doesn't include any Ethernet jacks that are capable of accepting speeds that are faster than a single gigabit. That means that the mesh router won't be able to take full advantage of the multi-gig internet plans that we've seen emerging over the last year or so from a wide range of providers, including AT&T, Ziply Fiber, Verizon, Xfinity, Frontier -- and Google Fiber, which recently touted speeds as high as 20Gbps in its latest field tests. With wired speeds capped at just 1Gbps, Google's own Nest Wifi Pro wouldn't be the router I'd recommend for an internet plan like that.
"Our products weren't shipping new products like Sapphire Rapids, but as those are now in full production and we're going to be ramping those aggressively, we're better positioned going forward than we have," he told Reuters, adding that it would take several quarters to ramp up.
Chief Executive Pat Gelsinger said the cut to the fourth quarter outlook reflected economic uncertainty expected to last into next year, and that the company was taking time to ramp up sales into data centers, which dropped 27% in the third quarter.
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The company now expects 2022 annual revenue of about $63 billion to $64 billion, compared with $65 billion to $68 billion estimated earlier.
Its original forecast was for about $76 billion. Analysts on average expected annual revenue of $65.26 billion, according to Refinitiv data.
Chipmaker Intel Corp on Thursday cut its full-year profit and revenue forecast and warned it would lay off staff, but a stronger-than-expected performance at its personal computers segment helped send shares higher.
Intel trimmed its full-year adjusted earnings per share forecast to $1.95 from $2.30. (Reporting by Chavi Mehta in Bengaluru and Jane Lanhee Lee; Editing by Devika Syamnath, David Gregorio and Deepa Babington)
Speaking in Egypt at the Cop27 climate change summit, the Prime Minister believes the former Health Secretary will alienate voters in his West Suffolk constituents more than 10,000 miles from his ITV jungle camp.
"We expect AMD´s share gains to continue, as the company´s upcoming, next-generation server CPUs are expected to outperform Intel´s lineup across price and performance metrics," said Nathaniel Harmon, analyst at YipitData.
So is the Nest Wifi Pro more than twice as fast as before, as the speed rating suggests? First off, it's very important to remember that your devices can only connect to one band at a time, so those combined-band speed ratings are a bit misleading. Still, in Google's listing for the Nest Wifi Pro, the company notes that Wi-Fi 6E is up to twice as fast as Wi-Fi 6, largely thanks to the support for multiple 160MHz-width channels of traffic on the 6GHz band. That tells you that the system's biggest speed gains are likely to come to Wi-Fi 6E devices that can make full use of that 6GHz band.
Still chip analyst Dean McCarron at Mercury Research cautioned AMD is not immune to the slowdown in the data center market, noting the 8% quarter-to-quarter growth in the third quarter compared with the growth rate a year ago in the same period of 36%.
that missed analyst expectations for revenue at its cloud business, AWS, which rose 28% to $20.5 billion. AWS, and other cloud service providers, are big customers of chip makers, including Intel and key to their revenue growth.
"The amount that we can do with respect to people costs is a minority of our overall cost structure. So driving efficiency in the factory network is way more important to our economics than people cost," Gelsinger told Reuters, adding that adjustments to flexible workforces can be "quite immediate".
AMD, which makes CPUs and graphics processors for PCs and data centers, has also been hit hard as inflation hurt consumer demand for laptops and other gadgets, prompting electronics makers to cut orders for its chips.
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Nest Wifi Pro adds faster speeds and Wi-Fi 6E, which could be compelling We've looked at the features Nest Wifi Pro left out -- now, let's look at what the system added in.
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