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Advanced Micro sees sequential fall in sales

Chip maker Advanced Micro Devices Inc. (AMD-N) said Thursday it expected third-quarter sales to fall 1 to 4 percent from $1.65 billion US in the second quarter, due to weaker-than-expected demand, especially among consumers buying laptops in Western Europe and North America.

The warning is the latest in a line of downbeat signals from tech companies concerned about the faltering recovery in computer-related spending.

A month ago, the world's No. 1 chip maker, Intel Corp. warned that third-quarter revenue could fall short of its own estimates by more than $1 billion.

AMD's shares fell 1 percent to $6.33 in extended trading, after closing at $6.40 on Nasdaq. CTV Two CTV News CTV News Channel BNN - Business News Network CP24