AMD expects big revenue drop

NEW YORK, April 9 (UPI) -- Advanced Micro Devices, the world's second biggest microprocessor maker, said Monday it expected a big drop in first quarter sales.

In the latest bump in its bruising price war with No. 1 Intel, AMD said it expected to miss forecasts by more than 20 percent as revenues fell sharply.

The company said it expects to report revenue of around $1.23 billion in the quarter, below the $1.6 billion-$1.7 billion it predicted at the start of the year, the Financial Times said.

AMD had said at the beginning of March that its revenue outlook was overly optimistic.