AMD Stock Dips as New BIOS Update Causes System Crashes
Advanced Micro devices issued their quarterly report and released a BIOS update that crashed systems.
Quick overview
- AMD released the AGESA OI 1.2.8.9 BIOS update, which has caused system crashes for users.
- The company's stock has decreased by 0.10%, falling from a recent high of $225 to $217.
- Despite concerns about the AI market, AMD reported record earnings of $9.2 billion for the third quarter, exceeding expectations.
- AMD's strong performance positions them as a formidable competitor to Nvidia in the tech market.
Advanced Micro Devices (AMD) released their new AGESA OI 1.2.8.9 BIOS update, and with reports of system crashes with the update, the company’s stock is down 0.10%.
The New AGESA update from AMD is rolling out slowly, and with it come some system crashes according to reports from users. The update was supposed to optimize the system and tune memory functions, but instead, users are reporting instantaneous system crashes.
Users are saying that the computer is not booting into the operating system and that boot repair utility usage causes crashes as well. The update has rolled out quickly, and that could be why, but AMD stock is down to $217 from its recent high of $225.
AMD Keeps AI Hopes Afloat
Despite fears that the artificial intelligence market will go bust sometime soon, AMD is well above its September stock market price of $161 per share and is benefiting from a surge among AI stocks this week. Nvidia (NVDA) is also up 2.18% for the day but has not performed as consistently as AMD for the past few months. In fact, Nvidia is almost back to its September level.
AMD announced its third quarter earnings on Thursday, disclosing that they brought in $9.2 billion in revenue. That is their highest earnings for a quarter and was well above the $8.74 billion expected. They also reported earnings per share of $1.20, beyond the $1.16 expected.
The company’s guidance is not significantly above those numbers, as they anticipate revenue of $9.6 billion for the fourth quarter. If they can beat their most recent record-setting quarter, though, they will solidify their position on the market and become an even stronger competitor for Nvidia.
AMD also exceeded their expected net income, earning $1.24 billion as opposed to the $771 billion they expected. The company is strongly dispelling worries that the artificial intelligence market is going to collapse soon, and despite their heavy investment into product development and AI tech, they are seeing incredible profits and revenue as well as year-to-year growth.
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