AMD updates earnings forecast

Advanced Micro Devices said Wednesday that its decline in revenue from the second quarter to the third quarter will fall to the low end of its previously stated range of 10 percent to 15 percent. The drop will result in an operating loss in the third quarter, as the company expected. The chipmaker reiterated its previous projection that sales of flash memory products will decline by about $100 million, or about 30 percent, from second-quarter levels.

Rob Herb, executive vice president, said AMD still sees processor sales remaining at or near the record level of the second quarter's 7.8 million units.