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See the best of Reuters photography. See more | Photo caption Running of the bulls Highlights from the San Fermin festival in Pamplona, Spain, famous for its running of the bulls. Slideshow South Sudan: One year The world's newest country is now one year old. Slideshow AMD slides as weak Europe, China prompts outlook cut Tweet Share this Email Print Related News China trade surplus jumps as import growth falters 8:45am EDT ASML wins funds for chip technology from Intel 6:30am EDT AMD warns Q2 sales to take hit on global economic slowdown Mon, Jul 9 2012 AMD warns of 11 percent decline in revenue; shares slide Mon, Jul 9 2012 Intel funds next-gen chipmaking, buys into ASML for $4.1 billion Mon, Jul 9 2012 Related Topics Tech » Hot Stocks » Asian Markets » Tue Jul 10, 2012 10:08am EDT (Reuters) - Shares of Advanced Micro Devices Inc fell as much as 9 percent in early trading after the chipmaker slashed its sales outlook, prompting a slew of brokerages to cut their price targets on the stock. AMD and other chipmakers are grappling with slowing demand, as consumers shift to mobile devices and economic growth weakens in Europe and emerging markets. Chip gear maker Applied Materials Inc also cut its full-year sales outlook on Tuesday morning, sending its shares down 6 percent on the Nasdaq. The companies joined software firms Qlik Technologies Inc and Informatica Corp in issuing estimates below market forecasts — an early indication of potentially weak results from tech companies this earnings season. AMD said on Monday second-quarter revenue may slide 11 percent from the first quarter, reflecting disappointing sales in Europe and China. The company, which faces competition from Intel Corp's newest personal computer chip -- code-named Ivy Bridge -- will likely remain under pressure due to its low market share and Intel's superior products, J.P. Morgan said in a client note. Intel said in April that Ivy Bridge would drive sales later this year and power a new crop of super-thin laptops dubbed "ultrabooks." "We suspect second quarter marks the worst quarter of the year (for AMD), exacerbated by the impact of Intel's Ivy Bridge launch," Citigroup analysts said. The analysts said they do not expect Intel to miss estimates when it reports next week. Intel on Monday said it would spend more than $4 billion to buy up to 15 percent Dutch chip-gear maker ASML Holding NV and fund its research into costly next-generation chipmaking technology. AMD's shares, which have lost 40 percent of their value after touching a year-high in March, were trading down 8 percent at $5.16 on the New York Stock Exchange. The stock was among the biggest percentage losers on the exchange on Tuesday morning. For a compilation of rating and price target changes on U.S. companies, please click on (Reporting by Sagarika Jaisinghani and Aurindom Mukherjee in Bangalore; Editing by Saumyadeb Chakrabarty) Tech Hot Stocks Asian Markets 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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Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Tuesday, 10 July 2012
Thousands of Pakistanis protest opening of NATO supply route |
Russia blames local officials over fatal floods |
Bahrain court jails protest leader over tweets: lawyer |
Kenya candidates face ICC trial month after vote |
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Venezuela's Chavez says totally free of cancer, again |
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German transport firms turn offshore headache into profits |
Analysis: Japan plan to buy disputed isles risks China's ire |
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Intel bankrolls next-gen chipmaking, buys into ASML for $4.1 billion |
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UK's Islamic cleric appeals extradition to U.S. |
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Palestinians cautiously advance Arafat probe |
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Russian lawmakers ratify WTO entry |
Vatican condemns illicit ordination in China |
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European ruling on Google privacy policy set for September |
Applied Materials cuts full-year outlook on weak demand |
AMD slides as weak Europe, China prompts outlook cut |
Huawei eyes deals with Etisalat, Saudi Telecom |
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AMD Trinity Accelerated Processing Units Now in Volume Production
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