Shares in Advanced Micro Devices Inc took a hit on Thursday following the company’s warning that it expected to post an operating loss for the third quarter and a consequent downgrading by Deutsche Morgan Grenfell to hold from accumulate. The chipmaker’s stock fell $3.625, losing 9.3% of its value, to close at $35.25. DMG cut its 1997 earnings per share estimate to $0.28 from $1.12, and its 1998 estimate to $2.45 from $3.25.
