AMD Warns Sales Won’t Meet Forecast

Semiconductor maker Advanced Micro Devices Inc. warned Monday that its quarterly revenue would be lower than forecast, citing softness in sales of its memory chips used in cellphones and other devices. Its shares fell after the warning.

Sunnyvale, Calif.-based AMD did not provide a specific revenue or per-share profit forecast for the third quarter.

AMD follows its larger rival Intel Corp. in saying that sales of flash memory chips were less than forecast in the quarter. Last month, Intel lowered its forecast, blaming lower-than-expected demand for its microprocessors, flash memory and communications chips.

AMD shares fell to $13.49 in after-hours trading from a close of $13.70, up 27 cents, on the New York Stock Exchange.