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AMD backs forecast after Intel warns

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Business and Law
By Reuters   
Friday, November 14, 2008 11:34


Chipmaker Advanced Micro Devices stood firm on its financial forecast on Thursday, one day after Intel cut its fourth quarter revenue forecast by 14%, sparking fears about the PC industry. Shares of both companies, which make virtually all the microchip processors for computers, rose along with the broader market and AMD acting Chief Financial Officer Robert Rivet called the economic downturn "a storm that will pass".

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