Advanced Micro Issues Warning

Advanced Micro Devices Inc., Intel Corp.’s main rival in the market for personal-computer processors, said fourth-quarter sales and profit will miss forecasts because of weak demand for consumer PCs. AMD said profit will be 50 cents to 60 cents a share, missing the 68-cent average estimate of analysts. Sales will be little changed from the previous quarter’s $1.21 billion. The company had predicted growth in the “high single digits.” Shares of Sunnyvale, Calif.-based AMD fell to as low as $16 in after-hours trading after the warning, then recovered to $17.25. They had closed up $1.25 at $17.31 on Nasdaq before the announcement.