A roughly three-month run for Advanced Micro Devices (AMD) has just come to an abrupt halt. AMD stock was down big in after-hours trading Tuesday following disappointing guidance out of its fourth-quarter earnings report.

Actual Q4 results were pretty good. For the three months ended in December, revenues shot up 38% to $1.59 billion, and AMD earnings came to 6 cents per share on a GAAP basis. Both edged out expectations of $1.54 billion and 5 cents per share, respectively.

No, what had AMD stock reeling Tuesday evening was expectations for the current quarter. Namely, no one should expect the momentum from Q4 spilling over into the first quarter of this year. AMD expects revenues to plunge by “16%, plus or minus 3%, sequentially.”

At least prior to the earnings call, Advanced Micro Devices had not provided any indication as to what caused the huge miss. But really powering the positive sentiment behind AMD stock prior to the report was optimism over the company’s APU chips, which power Microsoft’s (MSFT) and Sony’s (SNE) game consoles.

However, CEO Rory Read was ebullient about Q4 in the press release, boasting, “Strong execution of our strategic transformation plan drove significant revenue growth and improved profitability in the fourth quarter.”

The earnings report itself should continue to stir worries in AMD stock holders that Advanced Micro Devices is continuing to feel the pressures from the secular decline in PCs as well as AMD’s lack of a convincing mobile strategy.

But as an added kick, it’s hard not to view Read’s narrow commentary as disconnected — and it’s hard to think that didn’t add a little fire to the late-Tuesday dumping of AMD stock.

Tom Taulli runs the InvestorPlace blog IPO Playbook. He is also the author of High-Profit IPO Strategies, All About Commodities and All About Short Selling. Follow him on Twitter at @ttaulli. As of this writing, he did not hold a position in any of the aforementioned securities.