Apple wasn't the only company to report earnings after the bell on Tuesday, July 30.
Real Money Stock of the Day AMD (AMD) - Get Advanced Micro Devices, Inc. Report reported adjusted earnings in the quarter were 8 cents a share on revenue of $1.53 billion, down from $1.76 billion a year earlier but ahead of expectations of $1.52 billion.
Computing and graphics revenue in the quarter was $940 million, missing expectations of $983 million. Enterprise embedded and semi-custom revenue was $591 million, beating estimates of $544 million.
Looking ahead, AMD said it expects third-quarter revenue of $1.75 billion to $1.85 billion, below forecasts of $1.94 billion.
But what does Jim Cramer think?
"Here's what's going on with AMD. I've gotten to know Lisa Su and Lisa and I were both, quite certain that with two different console makers putting out new consoles in the fourth quarter that no them...gamers are like...that's like a gamer knowing when the playoffs begin versus the regular season, no, there's almost virtually no game or who would buy the Xbox right now knowing that there's a new Xbox [coming soon]. So if you're making the chips for Xbox, you know, there's going to be a pause in demand, but is it really a pause in demand or is it just a pause in equipment? Those are two different things," said Cramer.