How bad was AMD's slowdown?

In 2021, AMD's revenue grew 68% to $16.4 billion, its adjusted gross margin expanded 370 basis points to 48.3%, and its adjusted earnings per share more than doubled. That growth was driven by robust sales of its Ryzen CPUs, Radeon GPUs, and Epyc CPUs for data centers. It benefited from elevated sales of consumer PCs as more people worked remotely, as well as market share gains against $Intel(INTC.US)$ across the PC market. $Direxion Daily Semiconductor Bull 3x Shares ETF(SOXL.US)$ $PHLX Semiconductor Index(.SOX.US)$

In the first half of 2022, AMD's $Advanced Micro Devices(AMD.US)$ revenue surged 70% year over year to $12.4 billion, its adjusted gross margin expanded to 53.4%, and its adjusted EPS grew 90%. Therefore, its abrupt slowdown to just 29% revenue growth in the third quarter likely caught many investors by surprise.