AMD has released a preliminary third quarter earnings report (opens in new tab), and Wall Street isn’t happy. The company reported quarterly revenue of $5.6 billion, which is well below its previous estimate of $6.7 billion. At the close of trade on October 7, stocks of the company were down nearly 14% (opens in new tab). Brutal.

AMD attributes the decline to the weak PC market and greater than expected inventories. AMD’s client business saw a huge 53% drop in revenue from last quarter alone! That’s got to hurt.

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