AMD Forecast Buoys Confidence in the Chipmaker

Advanced Micro Devices Inc. gave a quarterly sales forecast that was in line with analysts’ estimates, indicating renewed momentum in its bid to take market share from Intel Corp. in microprocessors. Shares jumped more than 8 percent in late trading.

Second-quarter revenue will be about $1.52 billion, Santa Clara, California-based AMD said Tuesday in a statement. That matched the average analysts’ projection compiled by Bloomberg. The company also posted sales for the first quarter that exceeded predictions, buoyed by demand for personal-computer processors.