AMD slides as weak Europe, China prompts outlook cut |
Reuters - Jul 10, 2012 |
Shares of Advanced Micro Devices Inc (AMD.N) fell as much as 9 percent in early trading after the chipmaker slashed its sales outlook, prompting a slew of brokerages to cut their price targets on the stock.
AMD and other chipmakers are grappling with slowing demand, as consumers shift to mobile devices and economic growth weakens in Europe and emerging markets. [ID:nL2E8I9DTL]
Chip gear maker Applied Materials Inc (AMAT.O) also cut its full-year sales outlook on Tuesday morning, sending its shares down 6 percent on the Nasdaq. [ID:nL3E8IA4FS]
The companies joined software firms Qlik Technologies Inc (QLIK.O) and Informatica Corp (INFA.O) in issuing estimates below market forecasts — an early indication of potentially weak results from tech companies this earnings season.
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- Posted: 2012-07-10 13:00:41
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