AMD earnings to come out amid gloomy days for PC market
Justin Sullivan

Advanced Micro Devices (NASDAQ:AMD) is set to deliver its third-quarter earnings results after the close of trading Tuesday, and the chipmaker is probably hoping that it has already gotten the worst of its bad news out of the way.
Analysts estimate that AMD (AMD) will report a profit of 70 cents a share on $5.65B in revenue for the quarter that ended in September. Nearly a month ago, AMD (AMD) bit the bullet and released preliminary third-quarter results, and the impact was uniformly negative. 
AMD (AMD) said it expects third-quarter revenue to come in at $5.6B, which at the time was well short of analyst's estimates of $6.71B. Chief Executive Lisa Su said AMD's (AMD) results had been affected by a PC market that "weakened significantly in the quarter," and that "macroeconomic conditions drove lower than expected PC demand and a significant inventory correction across the PC supply chain."
Just days after Su's comments, tech research company IDC released data showing that, aside from Apple (AAPL), every major PC maker saw shipments decline during the third quarter of the year. 
And on Monday, one day before AMD's (AMD) report, Northland Capital Markets analyst Gus Richard cut his rating on AMD's (AMD) stock to market perform from outperform due to factors such as the market for semiconductors in China.