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AMD shares hit hard by revised revenue forecast

Revenue will drop 8% spooking investors who expected 3%

By CBR Staff Writer

AMD revealed a Q2 revenue forecast showing an 8% drop in expected turnover, far greater than the 3% drop originally forecast.

The fallout saw the chip maker’s share price tumble 15%.

AMD said weaker than predicted consumer PC demand was behind the drop. It also revealed that gross margins would be 28% not
32% as originally estimated.

Rumours of a possible takeover continue to circulate with Microsoft named as a possible suitor.

AMD will reveal its Q2 earnings on July 16th.

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