Advanced Micro Devices, Inc. (AMD) Falls After Lower GM Forecast

Advanced Micro Devices, Inc. (NYSE:AMD) forecast stronger-than-expected revenue growth of 22 percent in the third quarter from the second, as the chip maker expands into new game consoles and other markets to offset slowing sales of personal computers. That indicates a range of $1.38 billion to $1.45 billion. Analysts on average had estimated sales of $1.23 billion, according to data compiled by Bloomberg. AMD revenue forecast Advanced Micro Devices, Inc. (NYSE:AMD), which for decades has competed against market leader Intel Corporation (NASDAQ:INTC) in supplying chips for PCs, is rushing to refocus on new markets as consumers buy fewer laptops and more tablets and…