Advanced Micro Devices sinks as Q3 sales miss estimates by wide margin

Wonder how much the decline of Mining hurt them?

What is an "inventory correction"?

The full quote is "While our product portfolio remains very strong, macroeconomic conditions drove lower than expected PC demand and a significant inventory correction across the PC supply chain."

I assume that means that PC suppliers sold down stock and didn't replenish it.

Distributors see their months of supply of inventory getting too large so they then reduce their orders to bring it back down. Inventory doesn't only mean stuff on warehouse shelves can also be scheduled deliveries of product.

If I have a 12 month recurring order for 100k/month and 50k in stock. But now selling 75k/month you can see unsold inventory is going to pile up quickly.

Yeah, and sometimes they can even send stock back that they already have on hand; when I was in manufacturing that would happen now and then.

Bullwhip effect playing out?