After two years of a work-from-home boom, we are now in the midst of a sharp drop in spending on computers and consumer electronics. Chip stocks, designers, and suppliers of the components used to make personal computing devices were crushed. advanced micro devices (AMD -1.73%) is no exception, as its “customer” (PC) segment sank 40% year-over-year in Q3 2022.

However, the backbone of future consumer-facing apps is now being built in earnest. Often referred to as the metaverse, building enterprise data centers in support of this 3D virtual future is booming right now, with AMD’s leading segment growing rapidly and largely offsetting the pain elsewhere.

When withdrawing from an acquisition, AMD’s business lines are offset

AMD already released a pre-release…