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Slideshow Sponsored Links AMD CEO encouraged by Black Friday PC sales Tweet Share this Email Print Related News Retail stocks slip, holiday sales boost seen fleeting Mon, Nov 26 2012 Holiday shoppers buy early, often, online Mon, Nov 26 2012 Black Friday sales online top $1 billion for first time: comScore Sun, Nov 25 2012 UPDATE 3-Black Friday sales online top $1 bln for 1st time-comScore Sun, Nov 25 2012 Shoppers buy earlier this holiday season Sat, Nov 24 2012 Analysis & Opinion Why retailers can expect modest holiday spending growth Related Topics Tech » Media » iPad » Black Friday » By Noel Randewich SAN FRANCISCO | Tue Nov 27, 2012 1:24pm EST SAN FRANCISCO (Reuters) - Results from the U.S. Thanksgiving weekend look encouraging for PC sales although it's too early to make predictions about the entire holiday shopping season, and the PC industry still faces long-term problems, the CEO of chipmaker Advanced Micro Devices said. The growing popularity of Apple's iPad and other tablets have sapped demand for PCs, and with economic growth slowing in China and struggling in Europe and the United States, global shipments are expected to decline slightly this year, the first annual drop since 2001. "We've seen some positive news out of Black Friday over the past several days," AMD Chief Executive Rory Read told investors at a conference in Scottsdale, Arizona on Tuesday. "Our performance over that period looked reasonably well but I think it's a little early to call the holiday season." Read reiterated that he does not expect the PC market, which accounts for about 85 percent of AMD's business, to recover for several quarters. Manufacturers have been betting Microsoft's long-awaited launch of its Windows 8 platform in October will help drive PC sales this holiday season. But Read said the operating system's release came at an awkward time and held up inventories going into September, when manufacturers are normally busy building PCs for the holiday season. One of Silicon Valley's oldest chipmakers, AMD has been laying off engineers while looking for new markets for its chips as it faces depleting cash reserves. It has hired JPMorgan Chase & Co to explore its options, although an outright sale of the company is not the main option, according to sources. Sales over the Thanksgiving weekend and the holidays in general are closely watched by investors. U.S. retailers can generate a third of their sales and up to half of their annual profit in November and December. Like its larger rival Intel, Sunnyvale, California-based AMD was caught flat-footed in recent years with the emergence and fast growth of mobile devices. Shares of AMD were up 0.53 percent at $1.88. (Reporting By Noel Randewich; Editing by Bernard Orr) Tech Media iPad Black Friday Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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