Amd downplays the popularity of cryptocurrencies
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AMD has issued an official statement to expose that it considers the information presented by Susquehanna analyst Christopher Roland to be erroneous, which ensures that the demand for graphics cards by cryptocurrency miners is going to decrease, lowering the shares of AMD and Nvidia and investor confidence.
AMD Claims Its Revenue From Cryptocurrencies Is Lower Than Exposed Above
AMD has stated in its statement that its revenue from cryptocurrency miners represents less than 10% of the company's total, and not the 20% indicated in the report presented by the analyst cited above.
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Cristopher Rolland's analysis was especially damaging to AMD, since its hardware is the most used to mine Ethereum, and it is expected that the first ASICs specialized in this task will arrive soon, so the demand for its cards will be reduced significantly. It is for this last reason, that the analyst predicted a decrease in income of 20% for AMD, just double the 10% predicted for its great rival Nvidia.
Techpowerup font“A report on AMD was released yesterday which was a very high revenue for Ethereum related GPU sales. As a reminder, in our Q4 2017 earnings conference call, we stated that the mining related percentage of annual revenue was approximately single digit in 2017.
We had significant growth in the GPU business outside of mining in Q4 2017, as we expanded our Radeon Vega-based products, our GPU computing products, and our Apple business. We also discussed the strength in the rest of our business with AMD Ryzen and the drive for the AMD EPYC product.
We appreciate the time and attention that investors continue to pay to Blockchain and cryptocurrency, but we would also like to keep them in perspective with the multiple future growth opportunities for AMD. ”
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