AMD Drops to Two-Year Low After Reducing Sales Forecast
This article is for subscribers only.
Advanced Micro Devices Inc. fell to its lowest in more than two years after the chipmaker said second-quarter sales declined more than originally projected because of weak consumer demand for personal computers.
Revenue dropped about 8 percent from the first quarter, compared with an earlier forecast of a decline of about 3 percent, the Sunnyvale, California-based company said in a statement after the close of regular trading Monday. AMD, which has struggled to compete with Intel Corp., will report results for the quarter on July 16.