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AMD Shares Fall 9.3% After Warning of Loss

September 05, 1997|Bloomberg News

Advanced Micro Devices Inc. shares fell 9.3% after the company warned it will lose money in the current quarter because it couldn't make enough of its latest-generation K6 microprocessors. AMD shares fell $3.63 to close at $35.25 on the NYSE. AMD said it will have a loss in the third quarter because it expects to boost K6 production to only about 1 million units instead of the 1.2 million to 1.5 million expected. In the year-earlier third quarter, AMD lost $38.4 million, or 28 cents, on revenue of $456.9 million. Analysts were expecting the Sunnyvale chip maker to earn 32 cents, based on the average estimate of analysts surveyed by IBES International Inc. AMD said eight of the 20 largest personal computer makers have agreed to make PCs with the K6.

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