AMD Lowers Forecast: Chipmakers Suffer from Weak Computer Market
The computer-chip maker said Thursday that it now expects its third-quarter revenue to fall 1% to 4% from the second quarter. In the second quarter, the company had narrowed its loss to $43 million, from $335 million in the year-ago quarter, on sales that jumped 40% to $1.65 billion. AMD, which in July projected that third-quarter revenue would be "seasonally up," is schedule to report its earnings next month.
Slower computer sales have, unsurprisingly, also hampered chip makers. Late last month, AMD's larger competitor Intel (INTC) also cut its third-quarter revenue forecast on low demand for personal computers.