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AMD cuts Q2 sales estimate
China and Europe to blame
AMD cut its estimate for Q2 sales on Monday, down from $1.59 to $1.69 billion to $1.42 billion.
The chipmaker pinned the blame for the downturn on lower than expected sales in China and Europe and low demand for PCs in the consumer market.
AMD expects its gross margin to be in line with previous estimates, while operating expenses are expected to improve due to tighter control of expenses. So, no more massages on company credit cards for AMD execs this year.