AMD Falls Most in 9 Months After Lower Margin Forecast
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Advanced Micro Devices Inc., the second-biggest maker of personal-computer processors, fell the most in nine months after forecasting a drop in third-quarter gross margin, even as it predicted higher sales.
The shares tumbled 13 percent to $4.03 at the close in New York, the steepest decline since Oct. 19. The stock had gained 93 percent this year through yesterday, while the Standard & Poor’s 500 Index added 18 percent.