Chipmaker AMD cuts revenue estimate, citing weak PC sales

U.S. chipmaker Advanced Micro Devices Inc lowered its revenue estimate for the second quarter ended June 27, saying the demand for personal computers was weaker-than-expected.The company said on Monday that it now expects revenue to decrease about 8 percent from the first quarter, compared with its previous forecast of down 3 percent, plus or minus 3 percent. The company reported revenue of $1.03 billion for the first quarter. The first forecast implied revenue of $999.1 million to $969.1 million. (Reporting By Lehar Maan in Bengaluru)