AMD warns of 25% takings drop

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Chipmaker Advanced Micro Devices Inc. warned Thursday its fourth-quarter acquirement will bead about 25% from third-quarter levels due to weaker-than-expected demand, decidedly in the customer market.

That implies sales of $1.19 billion, based on third-quarter acquirement of $1.59 billion. Analysts polled by Thomson Reuters, on average, apprehend abundant college sales of $1.54 billion.

AMD (AMD, Fortune 500) had been struggling long before the economy took a turn for the worst, losing $5.6 billion over the past eight quarters. Last month, AMD said it will cut 500 jobs, or about 3% of its global work force - the company's second big round of layoffs this year amid a huge restructuring.

Layoffs

AMD had already laid off 1,600 workers, replaced its chief executive and revealed plans to spin off its factories - which represent a huge expense for chipmakers - to help the company return to profitability.

AMD and larger rival Intel Corp (INTC, Fortune 500). are responsible for making the bulk of the world's microprocessors - the electronic brains of personal computers. Intel owns about 80% of the worldwide microprocessor market; AMD essentially has the rest.

Chip sales have been suffering as companies worldwide lay off workers, slash capital spending and delay IT upgrades. The Semiconductor Industry Association said global chip sales were down 2.4% in October from a year ago, mainly due to falling prices for memory chips. The SIA expects the worldwide financial crisis to continue to hold back demand for chips next year.

AMD will report fourth-quarter results after the market closes on Jan. 22, 2009.

Shares slipped 3 cents to $2.17, after earlier falling to as low as $1.92. The company has lost about 71% of its market value this year.