AMD cuts Q2 sales forecast by $100m
PrintSARS to blame
Posted in Channel, 24th June 2003 13:56 GMT
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AMD has admitted that its Q2 sales will be $100 million - almost 14 per cent - down on its previous forecast.
The chip maker will post sales of around $615 million and not $715 million as it suggested when it announced its Q1 results in April.
The reason? SARS knocked PC and handset sales in China and other Far Eastern markets, the company said, reducing its income from microprocessors and Flash memory. And an "anticipated global sales improvement in the month of June" failed to turn up for the party, according to AMD CFO Robert Rivet.
Earlier this month, Banc of America Securities downgraded AMD's stock from 'neutral' to 'sell', citing its belief that the chip maker would not meet revenue expectations. ®
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