Results from AMD will be released amid bleak PC market conditions

After the close of business on Tuesday, Advanced Micro Devices (NASDAQ:AMD) is scheduled to release its third-quarter results, and the chipmaker is undoubtedly hoping that it has already gotten the worst of its bad news out of the way.

For the quarter that ended in September, analysts predict AMD (AMD) will record a profit of 70 cents per share on $5.65B in revenue. AMD (AMD) revealed its preliminary third-quarter numbers about a month ago, and the reaction was overwhelmingly unfavourable.

AMD (AMD) stated that it anticipated third-quarter revenue to be $5.6B, far below analyst projections of $5.71 at the time. The PC market "weakened significantly in the quarter," according to AMD's chief executive Lisa Su, and "macroeconomic factors prompted weaker than expected PC demand and a significant inventory adjustment across the PC supply chain."

Within a few days of Su's remarks, the tech research firm IDC published data revealing that, aside from Apple (AAPL), every significant PC manufacturer saw shipments fall in the third quarter of the year.

Additionally, on Monday, the day before AMD's (AMD) report, Northland Capital Markets analyst Gus Richard downgraded AMD's (AMD) stock from outperform to market perform because of variables like the Chinese semiconductor market.