AMD’s Revenue Misses by a Mile. The Stock Is Falling.

Advanced Micro Devices warned Thursday afternoon that it will miss its prior guidance for the September quarter, citing deteriorating demand for PCs. The chip maker’s stock is falling in after hours trading.

For the third quarter,

AMD

(ticker:

AMD

) now expects revenue to come in at around $5.6 billion, which is lower than its prior outlook of $6.7 billion plus or minus $200 million that it had given in early August.