AMD Plunges on Predicted Chip Slump: San Francisco Mover
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Advanced Micro Devices Inc. fell to the lowest price in almost three years after predicting a revenue decline amid market-share losses and diminished demand for personal computers.
AMD shares dropped 12 percent to $4.26 at 2:53 p.m. in New York. Earlier they touched $4.20, the lowest price since September 2009. The stock had decreased 10 percent this year through yesterday. Shares of chipmaker Freescale Semiconductor Ltd. and Rambus Inc., which handles chip design, also declined.