July 3, 2002 – Sunnyvale, CA – Advanced Micro Devices Inc. lowered its second-quarter sales guidance to roughly $600 million from its June target of $620 million to $700 million.
The maker of Athlon and Duron PC chips previously cut its June guidance from an April sales target of $820 million to $900 million, due to weakness in the personal computer market.
Merrill Lynch cut its forecast for growth within the personal-computer industry, sending shares of several chipmakers and other PC component suppliers lower.
In the second quarter of 2001, AMD earned $17.4 million, or 5 cents a share, on sales of $985 million.
AMD said it will report second-quarter financial results on July 17.