A promising demand prediction for crypto mining chips led AMD on a manufacturing spree. But the chipmaker’s latest revenue forecast reveals that it misread the market.
The American multinational said that it now expects the revenue of the fourth quarter of 2018 to be about $1.45 billion. That marks a 150 million dollar cut from the original estimates at $1.6 billion, according to Refinitiv data. While the revenue from AMD’s graphics and computing business looks strong at $938 million, it is the blockchain asset mining chips that are contributing the most to an overall bearish forecast.