AMD Shares Drop After Forecast Shows PC Slump Weighing on Sales
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Advanced Micro Devices Inc. fell as much as 8.3 percent after forecasting fourth-quarter sales that may trail estimates, as a focus on orders for game-console chips failed to make up for a slump in personal-computer demand.
Revenue will rise by 5 percent, plus or minus 3 percentage points, from the third quarter’s $1.46 billion, the company said yesterday in a statement. That indicates fourth-quarter sales of as little as $1.49 billion, while analysts on average projected $1.52 billion, according to data compiled by Bloomberg.