Advanced Micro Devices Inc. shares plunged 14 percent after the second-largest maker of processors for personal computers cut its forecasts for third-quarter sales and profitability, citing manufacturing disruption.
Advanced Micro Devices Inc., the second-largest maker of processors for personal computers, cut its forecasts for third-quarter sales and profitability, citing manufacturing glitches. Shares dropped as much as 11 percent.
Advanced Micro Devices Inc. , Intel Corp.’s main competitor in computer processors, said third- quarter sales will be less than it had predicted, citing weaker demand for notebook computers in Europe and North America.
Intel Corp., seeking a replacement for departing Chief Executive Officer Paul Otellini, needs a candidate with credentials internal contenders lack: a record of success in the market for mobile-device semiconductors.
Micron Technology Inc. will probably emerge as the top winner from the bankruptcy of Elpida Memory Inc., whose filing yesterday sidelines the last Japanese maker of computer memory chips and gives rivals the chance to scoop up factories on the cheap.