AMD, world’s No. 2 maker of PC processors, cuts 3Q outlook on weak consumer laptop demand

AMD cuts 3Q outlook on weak consumer demand

SAN FRANCISCO — Advanced Micro Devices has cut its third-quarter outlook.

The world’s second-biggest maker of personal computer processors expects revenue to fall 1 percent to 4 percent from the second quarter’s $1.65 billion.

The Sunnyvale, Calif., company had previously predicted that revenue would rise, which would have been in line with seasonal trends.

AMD blamed weak sales of consumer laptops, particularly in Western Europe and North America.

Analysts had been expecting revenue of $1.72 billion.

AMD’s bigger rival, Intel Corp., also cut its third-quarter outlook because of slower-than-expected consumer PC sales in the all-important back-to-school shopping season.

Worries about the economy have caused many consumers to cut back on technology spending.